I’m here to break the stereotype that whisky is a man’s drink, because ladies- a whisky over ice absolutely SLAPS.
I’d highly recommend grabbing a bottle of Lark’s (ASX: LRK) Tasmanian single malt whisky and giving it a go instead of your usual glass of red. Trust me.
Nominated as one of the top four distilleries for Worldwide Whisky Producer of the Year, the Company has a leg up on your standard bottle of JD. The packaging and branding oozes class, practically begging for a spot in your liquor stash.
The Company has seen many of their bottles find homes in liquor cabinets this quarter with net sales amounting to $6.8m, marking a record sales quarter up 72% on the prior corresponding period, and 89% on the last quarter. See, told you it slaps!
With their highest ever sales quarter under their belt, the net sales for FY22 have been given a boost to $20.3m.
The strong sales have seen the Company achieve positive cash flow of $1.3m. Concurrently, Lark has increased their inventory, better referred to as their ‘Whisky Bank’ to 2.1m litres of whisky currently under maturation. That’s 88% more whisky than last year, and underpins future sales and demand.
Lark is now well and truly in their growth phase and is looking for a new global CEO to direct their growth further.
Long term, the Company is focussed on building brand awareness and continuing their trajectory of growth, fuelled by their healthy cash balance of $16.1m and undrawn facility of an additional $10m.
Laura McBain, Managing Director and interim CEO elaborated on the Company’s direction, saying: “We are developing our core range to better meet the needs of customers in Australia. As we launch into export markets we’re also building and managing our whisky bank to ensure continued demand for Lark can be met with the highest quality product.
“The launch of Dark Lark in May- as our winter release- achieved strong success and marks our biggest limited release to-date, demonstrating depth of innovation, outstanding marketing and brand execution within Lark.
“The next quarter is particularly exciting as we continue to introduce the Lark brand to new customers, offering targeted limited releases to Lark followers through a disciplined yet innovative approach to marketing, Equally, the Christmas period is always an active period for Lark and will see strong activity across retail, on-premise, e-commerce and our own hospitality venues.”
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