Moa Group Limited reaffirms sales guidance and provides earnings guidance for fiscal 2014. The company reported a downgrade of its expectations for fiscal 2014 sales volumes. On 12 August 2013 the company advised that it expected to fall short of its fiscal 2014 sales volume target by approximately 30% (approximately 60,000 9 litre equivalent cases or 9LEs), largely due to an anticipated sales shortfall in the New Zealand market.

Early results post the distributor change over in New Zealand are encouraging and export markets, whilst moving around somewhat, are expected to be in line with previous expectations. As a consequence, company is confirming its previous sales volume projection, being 136,000 cases across all markets, down from 195,000 in the original PFI. The company also reported that financial result for fiscal 2014 will be significantly impacted by the various adverse circumstances that have developed during the first half.

During the second half the company expects to rebuild volume in New Zealand and grow volumes in Australia but that there will continue to be pressure on sales and manufacturing margins. The company has been modeling a range of projected outcomes for fiscal 2014 and anticipates, despite a level of confidence at this time that the revised sales volume targets can be achieved, that it will be difficult to limit the fiscal 2014 loss to $4.5 million and that given the adverse circumstances of the first half result the fiscal 2014 loss could be between $5.0 million to $6.0 million.