Oz article, page-2

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Good Drinks Australia (GDA)

A few years ago the former Gage Roads was pretty much a commodity contract brewer for its major shareholder, Woolworths.

But having bought out Woolies’ 25 per cent stake, Good Drinks is making inroads on the east coast with brands such as the surfing-themed Single Fin, the biggest selling craft beer in Western Australia and the second biggest nationally.

Good Drinks is also the biggest craft beer with national annual sales of around $70m, ahead of Stone and Wood ($65m) and Colonial Brewing ($32m).

Good Drinks’ hospitality presence is based at Freo’s Victoria Quay, but it’s also spending $5m on a showcase facility, the Atomic Beer project, at Sydney’s gritty but gentrifying Redfern.

In the December half Good Drinks recorded a $3.59m profit, a 600 per cent increase, on revenue of $27.4m, up 42 per cent. The company pumped out volumes of 8.5 million litres, in striking distance of its targeted 10 million litres a year.

With Good Drinks shares doubling over the last year, investors acknowledge the company is doing quite a few things right.