Splash Beverage climbs after higher Q1 revenue

Endovia Health Sciences

06/06/2023 16:11

** Shares of tequila maker Splash Beverage  SBEV.N  up as
much as 10% at $1.20 after co posts higher Q1 revenue 
    ** Revenue rose 48% to $5.82 mln compared with a year ago 
    ** High discounts helped increase sales, offsetting impact
of elevated production costs, even as gross margin declined
    ** Healthy demand across co's beverage brands helped narrow
Q1 net loss to $5.59 mln, or 15 cents/shr, from $5.99 mln, or 16
cents/shr, a year ago
    ** SBEV's beverage brands realized gains from being granted
national and regional authorization in the last six months - CEO
Robert Nistico
    ** Up to Monday's close, stock had risen ~13% YTD

 (Reporting by Juveria Tabassum in Bengaluru)
 ((Juveria.Tabassum@thomsonreuters.com;))