Moa warns of 30% sales miss
Craft beer maker falls short.
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Hawke’s Bay
Moa Group expects its FY2014 sales to be approximately 30% below the volume forecast in its prospectus, the company said in a market statement after the NZX closed.
LATEST: Moa shares crash 28% on sales warning
In its prospectus, Moa forecast $8.6 million revenue for the 12 months to March 31, 2014, based on selling 195,000 cases.
The brewer says the miss is largely due to the sales shortfall in the New Zealand market.
"To regain control and momentum in New Zealand, the company is actively negotiating a transition from its current distribution arrangement to a new distribution model," the company says in its statement.
In export markets, the US and ROW are performing in line with volume expectations, although in Australia, the smallest of Moa’s key markets, sales volumes have been tracking behind prospectus forecast, Moa says. In response, the company has recently acquired the Australian sales agency rights and intends to manage the Australian business directly.
CEO Geoff Ross was in a meeting when NBR ONLINE called.
Moa [NZX:MOA] closed down 1.67% to $1.18 today.
NBR staff
Mon, 12 Aug 2013
Mon, 12 Aug 2013
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Moa warns of 30% sales miss
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