Well by this time of day this is becoming old news, but hopefully some of you that live in caves and under rocks and only believe what you read on Beer and Whiskey Brothers will happy to hear that there is yet more good news in the craft beer world. The Craft Beer Alliance has announced their revenues for the second quarter of 2010, and they show strong performance in virtually every category or way you could look at money and financial performance.
Here is a small snapshot of what has happened in the second quarter of 2010 as compared to the same time last year:
- Operating profit increased by 14 percent
- Gross margin improved by three percentage points
- Total shipments increased by five percent to 170,900 barrels
- Year-to-date cash flow from operations grew 146 percent, driving a 22 percent reduction in total debt
- Favorable modification to CBA’s primary loan agreement was executed
I know that financial information is boring but it has a lot of impact on all of us who like to drink the products, or who may want to start a business based on craft beer some day. Basically what this means is that craft beer is:
- A good investment
- Stable during hard economic times, and thus should remain stable during good times
- A financial winner. This is particularly important for people needing small business loans etc.
- A growth industry. This means that we can look forward to continued growth and expansion of craft beer, bringing new brews out and allowing breweries to get larger and ship further (looking at you Oskar Blues).
So the news is good. I think I will celebrate tonight with a nice cold Avery Saison.