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MENAFN - ProactiveInvestors - Australia - 13/02/2013

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(MENAFN - ProactiveInvestors - Australia) Gage Roads Brewing (ASX: GRB) has witnessed increased investor interest in the past six months, with shares hitting an intra-day high of A0.17, a 188% increase over the 0.059 the company was trading at in mid-August.

The company is a price per cent gainer today having jumped 0.025, or 17.24%, from yesterday's close of 0.145.

By mid afternoon 12.8 million shares had changed hands.

Gage Roads recently reported strong results for the first half of the 2013 financial year, with revenue increasing 36% compared to the first half of fiscal 2012, driven up by a 33% increase in total carton production volumes across its portfolio.

Contract brewing sales for major retailer Woolworths increased by 23%, while sales of Gage Roads' proprietary brands were up 46%.

Other contract brewing sales grew by 91% due to the addition of new contract brewing customers.

Gage Roads has signed exclusive contract brewing contracts with the Australian marketing division of San Miguel Yamamura Packaging Corporation, Duckstein Brewery Margaret River and McLaren Vale Beer Company.

With the implementation of the capital expenditure program to increase capacity, the company is now in a position to actively pursue additional contract brewing opportunities.

Meanwhile, keg sales across the board have increased by 148% and are starting to meaningfully contribute to revenues.

Gage Roads has completed the commissioning of its new brewhouse and is producing beer at full capacity.

 






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