Tasmanian whiskey distiller Lark Distilling has reported a rare hiccup in sales in the quarter ended 31 December 2023.
The company reported net sales revenue for the quarter was $4.2 million, down $1.1 million compared to the previous corresponding period.
The rare drop in sales was driven by lower limited release product releases in domestic channels and a reduction in exports of $500,000 due to a slowdown in its Chinese direct export channel.
Lark’s core Lark Signature range of whiskeys continued to perform well in Australia, showing a 24 percent sales growth compared to the previous corresponding period.
Domestic sales were supported by additional ranging of both its Lark Tasmanian Peated and Lark Rebellion offerings.
While exports declined the company reported progress with distribution agreements now signed with Singapore and Indonesian distributors.
Sales in Australian airports were up by $200,000.
LARK CEO Sash Sharma said: “This resilient performance is set against a backdrop of soft consumer confidence and challenging domestic trading conditions.
“…On the export side of the business we are setting ourselves up to drive international sales momentum, by creating repeatable and diversified revenue streams, which will be increasingly important with the softer consumer confidence currently in the domestic market.”
Picture: Lark Distilling