Ann: Q3 FY22 Business Highlights & Cashflow, page-13

Some of you have no business commenting - if you want to make remarks about 'trendy beers, 'hipsters' or whatever stale takes you can think of, head on over to fb for it.

Craft drinks consumers aren't going anywhere if you've had an even cursory glance at the consumer profile. Craft beer drinks aren't loyal to brands anymore, but they're very loyal to craft beer. MCL acquiring a distillery is a good get as it represents overall consumer trends as well as helps capture the female consumer - for any of beers efforts to make it more marketable towards women, the consumer makeup hasn't shifted beyond 80/20 M/F for years.

The problems with MCL is that they didn't tell anyone the whiskey project needed more financing, that they amassed debt by acquiring more shit throughout a pandemic, instead of focusing on company health (GDA had one year of losses in the last four, MCL have had all of them IIRC). MCL have had multiple opportunities to show good financial management yet they haven't demonstrated that in their activities for years.

MCL has a number of great brands and capabilities, they have good venues and a decent hold on the market and consumers, but their financial and strategic efforts are piss poor. It's not sexy for a company to talk about financial restraint instead of growth but it's time for them to pull their head in with regards to the ongoing SP shitshow.

If you think 'rEaL mEn DrInK vB' counts as analysis go over to BROO - they tried that approach, anyone want to buy a bankrupt brewery?