United Malt says history shows beer sales do not dry up in recessions as it rewrites supply contracts with big brewers and looks to get back on track with banks.
The company is adamant it will not need to raise additional capital after what chairman Graham Bradley described as a disappointing year when it needed to reach an agreement with its bankers to amend net debt to earnings covenants after being in breach.
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Brad Thompson writes across business and politics from Western Australia for The Australian Financial Review. Brad is based in our Perth bureau. Connect with Brad on Twitter. Email Brad at brad.thompson@afr.com
