Moa announces 30% drop in share price
Well, as a shareholder (figured it would be the closest to owning a brewery I would ever get) I got a bit of a shock when I checked the share price for Moa today, and see that they dropped 30% overnight.
The CEO puts it down to a poor distributor and a lack of sales in NZ. Kind of got me thinking....
There seems to have been a lot of focus on the overseas markets - lots on their facebook site about the bar they are supplying in San Francisco at the America's Cup, the contract for Brazil 2016, and other plans offshore, but perhaps less focus on whats happening at home. I found it interesting (disappointing) to see that - apart from one tap at a communal bar - they weren't represented at Beervana. As a brand that is happy to push the "Craft Beer" label, they seem to perhaps have forgotten their roots by not fronting at NZ's premier Craft Beer festival, and were conspicuous by their absence. Hell, even Lion and DB showed up through their Crafty Beggars and Monteiths brands.
I know the focus for Moa has been on expansion and building a bigger brewery - which I see they have just been granted consent for. Hopefully now they have got that process underway they can get back on track, for the sake of their very tasty beer,...and my modest investment.
On the positive though Geoff Ross seems to have a pretty good track record when it comes to running businesses.
Replies to This Discussion
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Permalink Reply by mattd2 on
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I had a random thought to check out the Moa share price today, got a shock (but not too bad since I don't own any). There was an announcement yesterday(?) that they are current about 30% behind on their domestic sales target. I remember some talk around the targets listed in the IPO as being a bit pie-in-the-sky. Hopefully this gives them a shake up to refocus on the NZ market.
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Permalink Reply by Grant R Baker on
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A 'refocus' will be tricky with so many new craft brewers coming on the market and improved imports of overseas craft beers... they had better pull finger.
Really I think all NZ craft brewers should take note of Garage Project and Epic.. always bringing something new to the market for us to try. Staple good beers is one thing.. new flavours is another.
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Permalink Reply by Nztayls on
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On the plus side though, just picked up a Doz Moa Original for $24.00 on special at the supermarket,...so they are now obviously trying to move some stock. If only it was the Imperial Stout or the St Joseph's...
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Permalink Reply by Dene McDonald on
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Central City New World (Dunedin) has Moa Tastings today. Felt sorry for the guy as Richard Emerson was there too giving tasting of his beers too.
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