Mighty Craft (ASX:MCL) announced financial results for the quarter ended 30 September 2022.

Cash receipts of $20.7m for the quarter, up +81% on Q1 FY22 (?pcp?).

Group sales revenue up +66% on pcp.

Operating cash outflow of $(2.7)m reflecting trading performance along with the initial stock build to support peak trading. This was an improvement on the previous year of +$2.7m with operating cashflow in Q1 FY22 of $(5.4)m.

Investing cash outflow of $(0.8)m reflecting minor works to support increased capacity at Lot 100 and Better Beer investment in brand infrastructure.

Beer / Cider litres - 2.2m actual representing +182% growth vs pcp.

Spirits Bottles - 64k actual representing +25% growth vs pcp.

Whisky under maturation - 379k litres achieved versus 535k litre target.

The Company confirms FY23 volume guidance.

Better Beer remains on track to deliver the 10 million litre ambition for FY23.

The Company notes scan sales out performance has continued to increase (chart on page 5) including the largest week since launch in September 2022.

Venue performance reflected a strong rebound as hospitality conditions return to normal post COVID with venues up +75% in revenue versus pcp and profitable.

The Company?s cash balance as at 30 September 2022 was up +54% at $5.7m compared to 30 June 2022 at $3.7m.

The Company notes that October 2022 will be a record sales month with approximately $9m in sales revenue expected, giving the Company confidence in the growth trajectory heading into peak period.

Following the announcement the company?s share price rose 18.181%.