Fremantle-based boutique brewer Little World Beverages Ltd is planning to launch a new beer brand which will be developed in a new brewing facilty to be built in the Yarra Valley, near Melbourne, as it reports a 14 per cent lift in annual net profit.
Executive director Howard Cearns told WA Business News that the company is looking at launching a new beer brand in 2009 which will be overseen by one of the original founder of the Fremantle icon, now based in Victoria, Phil Sexton.
"There is opportunities for a new operation over there [Victoria], we have a great idea for a style of beer that we'd like to make, it will be complementary to Little Creatures, with a different feel," Mr Cearns said.
Although a new brand is in the making, Mr Cearns said that the company still wants the Little Creatures brand to lift to similar levels as other local beers distributed nationally such as Coopers or James Boags.
"The Little Creatures brand is at the core of shareholder value ... internationally Little Creatures is now sold in the UK, Singapore, Denmark, New Zealand and Hong Kong,' Little World said in a statement.
Little World said that the net profit for the year to June 30 was $3.41 million compared with $2.98 million for the previous corresponding period.
Earnings before interest, tax, depreciation and amortisation rose 34.9 per cent to $6.18 million.
Other Little World brands include Pipsqueak Cider and Roger's Beer.
The brewer opened the Little Creatures Dining Hall in the Melbourne suburb of Fitzroy in 2007/08.
A final dividend of 2.3 cents per share, fully franked, was declared - 15 per cent up on two cents for the prior corresponding period.
The total dividends for 2008 were 4.6 cents per share, fully franked.
At 1402 AEST, Little World was steady at $1.49.
The stock listed in November 2005, climbed about 56 per cent until March 2007 and has traded in a wide range since.
