Broo has scotched media reports that its Mildura Brewery is for sale with founder Kent Grogan saying it will instead be investing in the facility.
Embattled ASX-listed Broo is in the red in the first quarter of its financial year, reporting negative cash assets of $290,000, as executive director Kent Grogan makes another off-market share sale to keep the business afloat.
Troubled ASX-listed brewer Broo is set to offload its Mildura brewing operations and has put hospitality businesses up for sale as it looks to contract brewing after a year of losses amounting to $3.2 million.
Broo CEO and founder Kent Grogan said that he expected to return to the black on domestic sales alone after the ASX-listed group reported revenues up but increased losses this year.
Embattled ASX-listed brewer Broo is pinning its domestic sales hopes on a Queensland distribution agreement which it says will have a 2 million litre sales target.
Beleaguered brewer Broo has raised $400,000 in a share issuance as it insists negative operating cash flows will be rectified in coming months.
ASX-listed brewer Broo’s run of losses has continued, though the company has posted a smaller loss for the last quarter.
Battling brewer Broo has today released its half-yearly results showing a net loss for the half year of more than $1.8 million.
Publicly-listed brewing operation, Broo, has been forced to confirm to the Australian Stock Exchange that it has complied with its disclosure requirements following today’s significant, unexplained share price jump.
This week on Brews News Week we welcome Pete back after a break and talk about the news of the week, including: the Bintani sale, Lion job cuts and Broo.