Troubled ASX-listed brewer Broo has announced that it has narrowed its quarterly operational losses, while its new CFO has acquired a large parcel of shares from founder Kent Grogan.
Kent Grogan divested 10% of his voting power and has netted nearly $1 million in a share sale, the same day the beleaguered company committed to another share placing to improve working capital.
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.
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.
Broo Executive Director Kent Grogan is ‘very comfortable’ with where the company is despite announcing another large loss.