Whiskey drinkers will know that Tasmanian-made whisky is becoming increasingly well respected, which of course means increasingly expensive.
After the market closed yesterday Lark Distillery (which used to be called Australian Whisky Holdings) revealed the value of its 1.1 million litres of maturing whisky has increased by 140 per cent to $236 million. It is forecasting the strong stuff will be worth $389 million by the end of 2021-22.
Lark Whisky.
Lark Distilling’s largest shareholder is Bruce Neill with 11.4 per cent of stock.
In 2019 we wrote about a board spill at Australian Whisky Holdings led by Mr Neill that left him in charge of the company. The managing director is Grill’d co-founder Geoff Bainbridge.
But back to last night’s update.
Lark says the value of litres under maturation was $100 million at the end of 2019-20, but will be $400 million by next July as it produces 700,000 more litres of more whisky.
Remember it takes several years for the drink to mature, which means the value isn’t realised until it is sold.
And the $236 million value assumes it can maintain a sales price of $216 per litre.
Shares closed at $3.24 on Tuesday and are up 123.45 per cent so far this year.
The Reserve Bank’s message on Tuesday was a little more “hawkish” than markets were expecting, but the Aussie dollar may not get much higher than US75c even if rates do rise earlier than expected, according to market analysis group Capital Economics.
While economic data is pointing to a strong economic recovery in both countries, which had much lower COVID-19 infec ..
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