(Alliance News) - Gin and Vodka maker maker Distil PLC on Monday reported a good sales performance for the key Christmas trading period and said that financial 2020 profit will be ahead of last year and broadly in line with market estimates.
Distil shares were trading 1.7% higher in London at 0.71 pence each on Monday.
The company, which owns the RedLeg rum brand, Blackwood's gin and Blavod vodka, said revenue for the third quarter ended December 31 increased by 7% on year-on-year basis, supported by continued marketing investment. Year-to-date, however, Distill saw a 13% drop in revenue and volume despite maintaining its marketing investment spend.
Don Goulding, executive chair, said: "Our key brands performed well in the third quarter, growing volume and value in a highly competitive and changing market place."
"The outlook for the final quarter to 31 March 2020 remains positive with full year profit out-turn expected to be ahead of last year and broadly in line with market expectations," Goulding added.
Back in October 2017, Distil swung to a pretax loss of GBP1,000 for the six months to September 30, compared to GBP101,000 pretax profit a year before. Meanwhile revenue fell by 29% year-on-year to GBP824,000 from GBP1.2 million.
By Loreta Juodagalvyte; loretajuodagalvyte@alliancenews.com
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Distil (DIS)