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LONDON (Alliance News) - Distil PLC on Friday said revenue rose in the fourth quarter of its financial year boosted by strong growth in volume and said its full-year results will be in line with expectations.
The drinks company, which produces RedLeg Spiced Rum, Blackwoods Gin and Vodka, and Blavod Black Vodka, said revenue in the fourth quarter ended March 31 grew by 66% while volume rose by 76%.
Distil said this was supported by a 61% increase in brand marketing and a temporary shift in volume mix in favour of Redleg, Blavod Black Vodka and Blackwoods Gin Limited Edition, more than offsetting an anticipated fall in volume shipments of its standard Blackwoods Gin where the prior year comparative period benefited from initial launch sales and pipeline fill in the US.
Distil did warn that trading conditions in Eastern Europe remain challenging, but noted that sales of Blavod Black Vodka in the region showed good growth in the final quarter.
"We anticipate full-year performance to be in line with the board's expectations and look forward to reporting our full-year results in June 2016. Our plan remains focused on shareholder value creation through the continued investment in and development of our brands," Chief Executive Don Goulding said in a statement.
"As we enter the current financial year we remain positive for the prospects of our portfolio of brands and look forward to building on the significant progress made to date," he added.
Shares in Distil were trading up 2.2% at 0.945 pence on Friday morning.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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