Well I must say the trading update from Broo was pretty disappointing. Nothing new, other than they now own and operate a restaurant/brewery in Mildura. Good luck with that!
On that topic, the alarm bells should be ringing - why would you talk about all this product demand, and in the same update, tell us that increased capacity will allow Broo to contract-brew for others. A quick reality check here: Mildura were already brewing for others before Broo came along. So nothing new, in fact, disappointedly so.
The ALM deal is just a re-hash of previous news - Broo....we already knew about it. Moving swiftly on.
The Sorrento Brewery did not get much air-time, which is odd given they're planning to open next month. One can only assume there's no real brewery, just a bar which is branded as a brewery.
And interestingly, nothing on the fantasy brew-land in Ballarat. I guess we'll forget about that one and allow the option on the land to lapse.
Finally, it's most often interesting to think about what was not said. They now have $2.5m in new debt since we last heard from them, and you can bet your bottom dollar the debt-holder(s) rank well ahead of the ordinary shareholders.
Is it time to man the life-boats? Hmmmm...think I'll just don the life-jacket just in case.
Continuing to watch with interest.
BEE Price at posting:
29.0¢ Sentiment: None Disclosure: Not Held
