Moa slumps to record low, worst performing stock after saying 2014 sales will miss forecasts

Mon, 12 Aug 2013

By Tina Morrison Aug 13 (BusinessDesk) – Moa Group is the worst performing stock on New Zealand’s benchmark index, dropping to a record low, after the boutique beer maker said it will miss its 2014 sales forecasts as volumes sold in New Zealand and Australia lag expectations. Shares in Moa slumped as low as low 80 cents, and recently traded at 85 cents, dropped 28 percent on the day. Four months into the 2014 financial year, Moa expects to miss its full-year target of 195,000 cases by 30 percent, largely due to a shortfall in the New Zealand...

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