Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Moa shares soar after meeting sales guidance

Moa shares soar after meeting sales guidance

April 4 (BusinessDesk) - Shares in Moa Group soared to a three-week high after the beer maker said it met a sales target, which it was forced to cut last year when switching its local distribution.

The shares jumped 19 percent to 63 cents after the Auckland-based company said it sold 3.67 million bottles in the year ended March 31, and will announce its formal result on May 27. In December it forecast a full-year loss of between $5 million and $6 million, at least twice the expected loss of $2.5 million in its 2013 prospectus.

The stock slumped last year when sales volumes missed forecast, something Moa blamed on its now-dumped distributor, Treasury Wine Estates, for failing to deliver on the agreed targets.

Moa is using a contract brewing facility to cope with increased volumes as it goes through a resource consent appeal process to build a bigger brewery.

Last year the company’s board said it will embark on a strategic review to “improve the overall profitability and viability of the business model in each of its markets and in terms of its manufacturing capability, both for the immediate and medium terms.”

It expects to complete the review once the decision on the new brewery is finalised.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Land & Water Forum: Fourth Report On Water Management

The Land and Water Forum (LWF) today published its fourth report, outlining 60 new consensus recommendations for how New Zealand should improve its management of fresh water and calling on the Government to urgently adopt all of its recommendations from earlier reports. More>>



Welcome Home: Record High Migration Stokes 41-Year High Population Growth

New Zealand annual net migration hit a new high in October as more people arrived from than departed for Australia for the first time in more than 20 years. More>>


Citizens' Advice Bureau: Report Shows Desperate Housing Situation Throughout NZ

CAB's in-depth analysis of over 2000 client enquiries about emergency accommodation shows vulnerable families, pregnant women and children living in cars and garages, even after seeking assistance from the Ministry of Social Development and Housing New Zealand. More>>


Speaking For The Bees: Greens Call For Neonicotinoid Pesticide Ban

The National Government should ban the use of controversial pesticides called neonicotinoids after evidence has revealed that even at low doses they cause harm to bee populations, the Green Party said today. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news