MENU

Why the Gage Roads Brewing Co Limited (ASX:GRB) share price is going nuts

The turnaround for brewer and craft beer distribution business Gage Roads Brewing Co Limited (ASX: GRB) is still on after the group posted $2.9 million in operating cash inflows on revenues of $16.4 million for the quarter ending June 30 2018.

This represents a strong quarter of growth with its full year operating cash profit being $5 million on revenues of $53.1 million.

The group also raised $10 million from institutional investors over the quarter to finish the finanical year with no debt and $16.9 million cash on hand. The brewer also intends to finalise the $13.25 million acquisition of WA-based brewer Matso at the start of finanical year 2019.

In total Gage sold 20% more beer than last financial year, with its Single Fin Summer Ale and Alby range of beers proving popular with consumers.

The WA-based brewer has a chequered track record as a listed business, with beer brewing rival Broo Ltd (ASX: BEE) also handing investors some disappointing results recently.

The ASX small cap up 285% with no sign of stopping...

One Australian company has developed a state of the art device that's revolutionizing hospitals all over the world. Even better, this device is so profitable that the company rakes in 90% margins. That's a lot of cash. So no wonder the stock's up 285% since 2008 – with no signs of stopping...

To discover the name and code, simply click the link below. You'll discover our expert's #1 medical technology pick... and you can decide for yourself whether to get invested today.

Click here to claim your free report.

Motley Fool contributor Tom Richardson has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.