By James Atkinson
Little World Beverages, brewer of Little Creatures and Pipsqueak Cider, has significantly exceeded its own profit predictions for the half year ended December 31.
Little World in December predicted an after tax profit in the range of $5.2 million to $5.7 million for the six-month period to December 31, which was between 13 per cent and 24 per cent above the previous corresponding period result of $4.6 million.
But this prediction proved to be conservative, as the company this week reported a 32 per cent increase in profit after tax to $6.1 million. This was off the back of revenue of $43.4 million, which was up 22 per cent.
Little World confirmed that commissioning of its new Geelong brewery was expected to be completed in early 2013.
"The recent upgrades completed at the Little Creatures Fremantle and White Rabbit breweries will ensure sufficient capacity to meet likely customer demand over the next 12 to 18 months," the company said.