25/02/2008 - 16:44

Little World Beverages revenue up 20.6%

25/02/2008 - 16:44

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Boutique brewing company Little World Beverages Ltd has reported a 20.6 per cent boost in total revenue to $16.7 million in the half-year ended December 2007.

Little World Beverages revenue up 20.6%

Boutique brewing company Little World Beverages Ltd has reported a 20.6 per cent boost in total revenue to $16.7 million in the half-year ended December 2007.

After allowing for one time costs related to the Fremantle-based group's various expansion projects totalling $270,159 after tax, reported net profit after tax was slightly down at $1.78 million, from $1.92 million in the previous corresponding period.

Operating profit before one-time items rose 7.1 per cent and operating cash flow was also strong, up 52.2 per cent.

Basic earnings per share was 3.03 cents for the period, down from 3.25 cents last year.

Little World's profit for the half year was impacted by a number of expenses related to the group's various expansion projects, however, the group is expecting these to generate additional profits in future financial years.

Little World said work was well underway on the expansion of its brewing facilities, with a purpose-built structure and new brewhouse facilities expected to be finalised and commissioned later in 2008.

Planning has also commenced for a new brewery to be built on land acquired earlier in the year in Healesville, Victoria.

In Fremantle, hospitality operations were expanded during the half-year with the opening of the Creatures Loft, adjacent to the existing Little Creatures cellar door in Fremantle.

Alterations to the existing cellar door were also carried out, increasing the offering with the addition of a rear bar overlooking Fishing Boat Harbour.

Little World shares ended the day 5 cents, or 3.57 per cent, higher at $1.45 each.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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