By Andrew Starke
Little World Beverages (LWB) has seen its share price rally after delivering a strong result for the year to June 30.
The listed Western Australian craft brewer recorded an 18 percent increase in revenue and a 51.1 percent increase in net profit to $6.8 million.
Earlier this year the company’s White Rabbit Brewery launched its open fermented dark ale and, more recently, the Belgian inspired white ale.
“The trade and consumer response has been exciting, with particularly positive signs emerging in the brewery’s home state of Victoria,” said Little World Beverages director, Howard Cearns.
He added that the LWB national sales team had enjoyed success in growing the company’s distribution base, specifically on the east coast where it has invested heavily.
Earlier this year, LWB chief financial officer, Jason Markwart, told TheShout that much of the company’s growth could be attributed to the extra production capacity of its Freemantle and Victoria breweries, which are now in full operation.
LWB shares were trading at $2.59 at 1pm today (Aug 27), up from $2.45 seven days ago.