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.
Executive Chair Don Goulding says: "It has been a transitional year for the business as we remodelled to set-up for accelerated growth. We're confident that we have weathered the turbulence related to the business remodel and the shape of the business model is expected to yield revenue upside from the current financial year onwards with accelerated business growth."
Looking ahead, says it is conscious of global pressures that still remain in terms of economic uncertainty and the impact that this will have on consumer spending habits as disposable income is squeezed.
Current stock price: 0.38 pence each, down 6.3% on Tuesday morning in London
12-month change: down 71%
By Xindi Wei, Alliance News reporter
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Distil (DIS)