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Distil Cheers Better Trading, Gets US Approval For Blavod Black Vodka

Thu, 26th Feb 2015 12:02

LONDON (Alliance News) - London-based drinks company Distil PLC Thursday said it achieved good levels of sales over the Christmas trading period, while its Blavod Black Vodka has been approved for sale in the US.

The company, which is solely focused on its owned premium brands - Blackwoods gin and vodka, RedLeg spiced rum, Diva vodka and Blavod black vodka - said higher revenue over the Christmas period was supported by a number of new listings with major customers.

"Overall, revenues for owned brands increased by approximately 12% and net contributions doubled. This was achieved despite a reduction in the sales of Blavod Black Vodka in Eastern Europe, particularly Ukraine as a result of the current situation there," the company said in a statement.

Distil is hoping to accelerate growth in the UK and internationally with the help of international distributors.

The company said Thursday that its Blavod Black Vodka has been approved for sale in the US. It said the brand has been re-designed with new labels and packaging, as well as an "improved" recipe. It said Blavod Black Vodka will be distributed by Ohio-based drinks distributor Kanetz Alcohol Imports Co, which has a network covering the US, Mexico, Jamaica and Canada.

"We now have a growing presence of our brands in the US following the latest approvals and expect revenues to build progressively as they become established by our distributors. We await approval for RedLeg Spiced Rum and anticipate news in the next couple of months," said Executive Chairman Don Goulding in the statement.

Distil said it has received initial US approval from the US Alcohol and Tobacco Tax and Trade Bureau for its Blackwoods Limited Edition 60% Gin, and has submitted the proposed labelling as part of the two-stage process with full approval expected to take a further five week.

"Once fully approved, Blackwoods Limited Edition 60% Gin will be distributed by The Winebow Group throughout the US, Virgin Islands and Puerto Rico," the company said.

Distil shares rose 6.3% to 0.850 pence on the back of the announcement before midday Thursday.

By Rowena Harris-Doughty; rowenaharrisdoughty@alliancenews.com; @rharrisdoughty

Copyright 2015 Alliance News Limited. All Rights Reserved.

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IN BRIEF: Distil shares down as annual loss widens; revenue falls

Distil PLC - London-based premium drinks producer, whose brands include RedLeg Spiced Rum and Blackwoods Gin and Vodka - Posts revenue of GBP1.3 million for year ended on March 31, down 55% from GBP2.9 million the year before. Pretax loss widens to GBP654,000 from GBP95,000, as gross profit falls to GBP684,000 from GBP1.6 million the year before. Adjusted administrative expenses increase by 21% to GBP903,000 from GBP890,000.

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IN BRIEF: Distil shares plunge on widened interim loss, lower revenue

Distil PLC - London-based premium drinks brands such as RedLeg Spiced Rum - Says pretax loss in the six months ended September 30 widens to GBP555,000 from just GBP45,000 a year before, as revenue falls 68% to GBP460,000 from GBP1.4 million. Says it moved towards direct sales of its products, instead of through a distributor during the half. "UK sales are adversely impacted by the removal of inventory from the distributor supply chain as it transitioned away from its UK distributor and to direct sales during Q2", Distil says Gross profit decreases by 74% to GBP210,000 from GBP794,000, and administrative expenses are up 29% to GBP436,000 from GBP338,000 the year earlier.

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IN BRIEF: Distil signs distribution agreement with Marussia Beverages

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Copyright 2022 Alliance News Limited. All Rights Reserved.

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