LITTLE World Beverages, the listed brewers behind the popular Little Creatures beers, increased profit by 28.5 per cent to $2.29 million in the first half.
Australians continued to drink boutique beers, despite the downturn.
The craft brewer also announced yesterday that it had taken a 20 per cent stake in the Byron Bay-based Stone and Wood Brewing Company, which gives LWB a contract to distribute selected products from the fledgling craft brewer.
"LWB has great respect for and confidence in the abilities of the Stone and Wood founders and views the relationship as very complementary, and the business as an attractive long-term investment," the company said. LWB shares closed at $1.38.
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