Lark Distilling Reports Modest Net Sales Growth in Fiscal Q3
Lark Distilling (ASX:LRK) reported a 0.2% increase in net sales to AU$4.3 million in the fiscal third quarter ended March 31, compared with the previous corresponding period, according to a Tuesday filing with the Australian bourse.The company also reported domestic direct-to-consumer sales of AU$1.9 million, down compared with the same period last year, while global travel retail recorded quarterly sales of AU$500,000, representing a 42% increase.Meanwhile, domestic business-to-business sales recorded strong growth of AU$1.5 million, up around AU$1 million compared with a year earlier.As of March 31, the company's cash at the bank stands at AU$15.8 million, with AU$11 million in cash term deposits and AU$5 million committed bank facility remaining undrawn, per the filing.The company's shares fell 1% in recent Tuesday trade.
