- Mighty Craft (ASX:MCL) announces a 8,516-increase in the number of distribution points across Australia for the March 2022 quarter, bringing the total number of individual distribution points to over 33,000
- The company says the increase in ranging is a further endorsement of its sales and distribution capability and consumer demand for premium, locally-made craft beverages, representing a significant sales opportunity for the company
- The company reported increases across all channels including a rebound in the on-premise channel following COVID-19 disruptions experienced in H1 FY22
- MCL shares 13.2 per cent higher at 30 cents
Craft drinks business Mighty Craft (MCL) has announced an 8,516-increase in the number of its distribution points across Australia for the March 2022 quarter, lifting the total number of individual distribution points to more than 33,000.
The company said the increase in ranging was a further endorsement of its sales and distribution capability and demonstration of consumer demand for premium, locally-made craft beverages, representing a significant sales opportunity.
Mighty Craft said all channels registered an increase including a rebound in the on-premise channel following COVID-19 disruptions experienced in H1 FY22.
Notable results included Better Beer Ginger Beer stocked in every Dan Murphy’s and BWS store stocked alongside Better Beer Zero Carb.
The company also recorded a 610 per cent increase in Kangaroo Island Spirits ranging across national and independent customers following the relaunch of the brand and opening of its upgraded distillery in February 2022.
“These gains are really pleasing and demonstrate the full breadth of the Mighty Craft portfolio,” Managing Director Mark Haysman said.
“Sales from these gains will land across Q3 FY22 and further strengthen our national footprint.”
MCL shares were trading 13.2 per cent higher at 30 cents at 2:23 pm AEDT.