The Gage Roads Brewing Co Limited (ASX: GRB) share price has stormed higher for a second day in row.
In afternoon trade the brewing company's shares are up almost 10% to 4.5 cents. This brings its five-day return to in excess of 25%.
Why are its shares going gangbusters this week?
On Tuesday, Gage Roads released a strong fourth-quarter update which revealed a 57% increase in total sales of Gage Roads' proprietary craft beer products compared to the prior corresponding period.
This was driven largely by a 315% increase in sales to independent retailers and a 196% increase in draught sales.
The strong end to the year led to unaudited full-year revenue of $27.2 million, up 7% on FY 2016's $25.5 million.
As a result, the company expects to report a full-year net profit after tax of $2 million. Which will be a 229% increase on last year's $600,000.
