Moa Group is expected to break even in the next six months following strong sales and a seasonal boost over summer. The underlying growth rate was over 20 percent in the months leading up to September, and the company is expecting to report an “improvement” for the period.
“We feel we are in a strong position,” said executive chair Geoff Ross in a statement filed with NZX. “Our core business has some great momentum of late which we plan to build on this summer. On the back of this growth and the summer lift, Moa expects the second half of this year to be near break-even.”
Since listing in November 2012, the company has consistently reported losses. Moa shares have risen to 42 cents, up 2.4 percent.
“Moa is now experiencing the strongest growth of the top four craft brands at a rate three times the craft beer category,” he said. “We are excited about the prospect of further opportunities. We are working on two further large hospitality deals to close before the end of the calendar year.”