Australian craft brewers Little World Beverages have posted a 35.4 percent rise in half-year profit, and predicted full-year net profit before significant or non-recurring items would be as much as A$8.8 million (US$8.88 million).
Little World Beverages said net profit in the half year to Dec. 31 was $4.619 million, up 35.4 percent on the first half of 2009/10.
Revenue was $35.56 million, up 27 percent from $27.96 million, Little World said on Friday.
The company declared an interim dividend of five cents, fully franked, up from 4.5 cents, also fully franked, in the prior first half.
Earnings per share were 7.36 cents, up 27.5 per cent from 5.77 cents.
The brewer said its new White Rabbit Brewery in Healesville, in regional Victoria, where it brews Dark and White ales, was outperforming expectations.
And it was optimistic about its purchase of a site, Valley Mills, near Geelong, where it proposes to develop “a special brewing facility in a unique place”.
“The vision is for future east coast demand for LWB products to be satisfied with lower distribution costs and lower carbon miles,” Little World said.
“Having settled the purchase on Jan. 31, 2011, work is currently underway to obtain the necessary approvals required to progress development of the Geelong brewery.”
Little World said it expected full year net profit, before unusual or non-recurring items, of $8.3 million to $8.8 million in 2010/11.