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
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Distil (DIS)