Lark Distilling Co Ltd
ASX:LRK

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Lark Distilling Co Ltd Logo
Lark Distilling Co Ltd
ASX:LRK
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Price: 0.62 AUD Market Closed
Market Cap: 66.1m AUD

Lark Distilling Co Ltd
Investor Relations

Lark Distilling Co. Ltd. engages in the further development of investment opportunities in the Australian craft distilling industry. The company is headquartered in Hobart, Tasmania. The company went IPO on 2003-11-12. The firm primarily operates in Tasmania and Australia markets. The firm markets through traditional off premise retailers and on-premises bars, and consumer business, including hospitality and online e-commerce. The company is primary focused on Whisky and the Lark brand and it also has Forty Spotted Gin. The firm operates through three segments: whisky, gin, and other.

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Last Earnings Call
Fiscal Period
Q2 2023
Call Date
Jan 27, 2023
AI Summary
Q2 2023

Sales Rebound: Sales were down 7% year-on-year at $9.6 million for the half, but Q2 sales of $5.4 million grew 27% versus Q1, showing positive momentum.

Margin Strength: Gross margin improved to 68.6% for the quarter, up 6 percentage points from last year, driven by higher-margin hospitality sales.

Cash Position: Lark ended the half with $9.1 million in cash and a further $15 million undrawn bank facility, supporting growth plans.

Brand Investment: Increased brand building and marketing expenses, up 4 percentage points as a share of sales, are aimed at supporting core range growth and new product launches.

Leadership Update: Satya Sharma, an experienced leader in luxury spirits, joins as CEO in May; a new permanent CFO search is underway.

Hospitality & Export: Own venues saw over 100% revenue growth for the half, and export sales to Southeast Asia and China grew substantially from a small base.

Strategic Focus: The company is prioritizing expansion of its core range and selective limited releases, with a deliberate slowdown in new product launches to build sustainable distribution.

Key Financials
Net Sales
$9.6 million
Q2 Sales
$5.4 million
Gross Margin
68.6%
Gross Margin (Half)
68.2%
Operating Cash Outflow
$350,000
Cash Position
$9.1 million
Undrawn Bank Facility
$15 million
Brand-Building Expenses (as % of sales)
up 4 percentage points
Whiskey Under Maturation
2.2 million liters
PR Impressions
34 million
Media Impressions
27 million
Earned Media Value
$450,000
Classic Cask Revenue Growth
29%
SYMPHONY Revenue Growth
39%
Independent Retailer Points of Presence
28%–29% increase since June '22
Hospitality Revenue Growth
over 100% up for the half
Tasmania Tourism Increase
43% at the same time last year
E-commerce Sales Decline
over $1 million lower sales compared to H1 last year
CapEx for Pontville Development
$15 million (expected)
Government Grant Installment
$1.8 million (first of 4)
Other Earnings Calls

Management

Mr. Satya Sharma
Chief Executive Officer
No Bio Available
Mr. Iain Short
Chief Financial Officer
No Bio Available
Caitlin Jones
Head of Operations
No Bio Available
Brent Tremain
Sales Director
No Bio Available
Mr. Clayton Anderson
Head of Ecommerce & Brand Communications
No Bio Available
Mr. Jason Whalley
Head of Marketing Strategy & Portfolio
No Bio Available
Emma Beard
Head of Projects & Planning
No Bio Available
Dan Knight
Head of Hospitality
No Bio Available
Chris Thomson
Head of Distiller
No Bio Available
Ms. Melanie Jaye Leydin B.Bus, C.A.
Company Secretary
No Bio Available

Contacts

Address
TASMANIA
Hobart
5B Morrison St
Contacts
+61362319088.0
larkdistillery.com