CRAFT beer brewer Moa Group has posted a $5.8 million net loss in the 12 months to the end of March, driven by high sales, marketing and distribution costs. In light of the loss, which was predicted in November, the brewer’s major shareholders Pioneer Capital (24%) and the Business Bakery (23%) have both committed to providing financial support to keep the company afloat for the coming year.
Difficulties gaining resource consent to expand its Blenheim brewery have also resulted in Moa announcing yesterday a long-term contract with fellow craft brewery McCashin’s to produce the bulk of its lines in Nelson.
"In short this gets us the efficiencies of scale without significant capital investment," says CEO Geoff Ross.
