Lark Distilling (ASX:LRK) delivers net sales of AU$4.2M in Q1 FY23

October 31, 2022 06:07 PM AEDT | By Khushboo Joshi

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Lark Distilling (ASX:LRK) delivers net sales of AU$4.2M in Q1 FY23 — Image source: © Draghicich | Megapixl.com

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Highlights

Lark Distilling has shared its quarterly activities and cashflow report for the September quarter.

As per the report, the beverages giant has delivered a net sales of AU$4.2 million in FY23 first quarter.

Australian beverages brand Lark Distilling Co. Ltd (ASX:LRK) today (31 October 2022) released its quarterly activities and cash flow report for the quarter ending 30 September 2022 (Q1 or September quarter). As per the report, the company has posted a 13% rise in normalised September quarter sales.

The shares of LRK closed 12.365% higher at AU$2.090 apiece on the ASX today.

Key takeaways from Lark’s FY23 first quarter results:

Lark, in the given period, has delivered net sales worth AU$4.2 million, 3% up from previous corresponding period.
The normalised September quarter sales is 13% up, quarter on quarter basis.
Lark has posted a gross profit margin of 67.7% versus 61.2% in previous corresponding period and 66.5% in FY22.
Lark has reported a cash position of around AU$10 million, along with an undrawn bank facility of AU$15 million.

Lark said that Dark Lark, its biggest limited release by volume, sold out 5000 units, while Wolf V, has also been posting satisfactory outcome.

Lark Distilling shared via the release that FY23 first quarter sale of whisky gift packs was AU$0.6 million lower versus FY22 first quarter.

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