Moa confirms smaller first-half loss as margins improve on bigger volumes, cuts to marketing spend

Thu, 26 Nov 2015

By Paul McBeth Nov. 27 (BusinessDesk) - Moa Group confirmed a smaller first-half loss as increased sales volumes helped widen its gross margin, and as the unprofitable craft beer brewer slashed its spending on sales and marketing. The loss narrowed to $1.7 million, or 3.5 cents per share, in the six months ended Sept. 30, from a loss of $3.2 million, or 9.5 cents, the Auckland-based company said in a statement. Revenue rose 32 percent to $3.3 million on a 43 percent increase in the volume of beer sold to 978,000 litres, while gross margi...

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