NZX-listed brewer Moa Group grew volume, revenue and gross margin in the financial year ended 31 March 2016.
Revenue increased 35 per cent to $8.15 million for FY16, with volume growing 43 per cent to 2.5 million litres. Gross profit was $2.4 million, up from $1.11 million the previous year.
CEO Geoff Ross said he expects revenue to continue to grow at a similar trajectory, and financial performance to continue to improve in FY17.
“Significant improvements in operating costs began to be realised mid-way through FY16, and we expect to see the full benefits of these across FY17,” he said.
Moa said new Nielsen scantrack data revealed the brewer is “leading the craft category” in New Zealand, as owner of the number one (Moa Original 12 packs) and number two (Moa Session Pale Ale 12 packs) products by value.
“According to the data, of the top four New Zealand craft beer brands, Moa shows the fastest growth annually as a brand with 11 per cent market share in supermarkets,” the brewer said.
“The company is also making gains on the international breweries making craft beer in New Zealand, Mac’s and Monteith’s, who hold 13 and 24 per cent value share respectively.”
In March, Moa Group CEO Geoff Ross and director David Poole increased their shareholdings in the brewer, which has experienced strong share price gains in the last 12 months.