Fremantle-based Little World Beverages Ltd has posted a net profit for the half year of $1.4 million, up 9.3 per cent on the previous year, which the company says is in line with its forecast for the period. Total revenue from ordinary activities was also consistent with forecasts, up 28.5 per cent to $10.2 million, while direct sales from its Little Creatures brewery were 13 per cent above last year. Beer sales volume for the six month period increased 32 per cent on the previous year but was 4.1 per cent below the six month forecast which the company says is due to "a delay in achieving target operational capacity." The company went on to say that all beer produced during the half year was sold.LWB listed on the ASX on the 10th November 2005 and raised $21.5 million. Following the repayment of all borrowings and paid costs related to the listing, the company had cash reserves at 31 December 2005 of $19.1 million.LWB says it has invested in a new packaging line and leased a site to satisfy its medium term packaging and warehousing requirements. The company is currently searching for a site to build a new 'green field' brewery. Shareholders on the register as at March 2006 will receive a fully franked interim dividend of 2.1 cents per share, representing 88.7 per cent of earnings per share for the half year. The dividend is expected to be paid on or around 16 March this year. LWB was created to facilitate a growth strategy focused on the premium beer market with Little Creatures Brewing a wholly owned subsidiary of LWB.
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