Moa shares slide to new low after reporting 1H loss of $3.04 mln

Tue, 19 Nov 2013

By Paul McBeth Nov. 19 (BusinessDesk) - Shares in Moa Group fell to a new low after the beer brewer reported a first-half loss of in a period where it expects to bear the brunt of switching its New Zealand distributor. The Auckland-based company reported a net loss of $3.04 million, or 10.1 cents per share, in the six months ended Sept. 30, and affirmed guidance its full-year loss will be between $5 million and $6 million, at least twice the forecast loss of $2.5 million in its 2013 prospectus. Revenue was $1.44 million, and Moa’s gross m...

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