Mighty Craft Achieves +91% Sales Growth in Q2 FY23, Delivering Maiden Positive Cash Result


Mighty Craft Limited (ASX:MCL) (Mighty Craft or the Company), a craft beverage accelerator with a nationally diversified portfolio, is pleased to provide a business update for the quarter ended 31 December 2022 (Q2 FY23) and Appendix 4C.


Mighty Craft’s Managing Director and CEO, Mark Haysman said:

“Q2 FY23 was a record quarter for the business from both a sales and operating cash perspective. We delivered the first positive operating cash result since listing in December 2019 – a significant milestone, reflecting increasing scale across the business and incredibly strong performance of Better Beer.

“We believe Better Beer is a unique asset of significant value, capable of competing with the largest beer brands across Australia and New Zealand. The upside potential of Better Beer is incredibly exciting for the business, an opportunity we’re aggressively pursuing.

“Our focus spirit brands are also performing very well. Likewise, we’re confident there exists significant opportunity over coming years to continue to unlock value for locally manufactured spirit brands. Our outlook for Q3 FY23 is strong, and we remain committed to balancing revenue growth with profit / cash delivery, while simplifying the business through our program of divestments”.

Full ASX announcement available at https://bit.ly/3Yb8R3v

1 Group unaudited revenue in Q2 FY23 includes sales from discontinued operations of approximately $2m
2 Group unaudited cash receipts in Q2 FY23 includes sales from discontinued operations of approximately $2m
3 Retail sales data sourced from available retail consumer data covering on-premise and off-premise sales

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