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Don Goulding Executive Chairman, commenting on these results said: “The strong growth momentum enjoyed in the previous financial year has continued into the six months to 30 September 2018 and I am pleased to report healthy year-on-year increases in revenue, profit and cash.

I have invested in a fund/asset manager that is very keen on Distil and it won't be long when they take position.

Latest trading update was better than market's expectations. Fund managers are watching and soon they will start taking positions. Distil's management is prudent and they are focused on organic growth (rather than selling brands) for at least next 3 years to take revenue into £10m+. Larger drinks companies with zero Rum in their portfolios will start paying attention to smaller companies like Distil if they are looking for Rum. DYOR GLA and stick to Distil for next 3 years, better days ahead for sure.

Intangible assets are undervalued in balance sheet (just £1.5m while it's worth in excess of £50m). imo, Distil should do revaluation of it's brands at the year end. Fund/Asset managers will take position soon.

Standard deviation of Distil is low, that makes it stable stock set for high growth (ideal for risk averse penny share investors).

What is "EV" Enterprise Value of Distil Plc?

What is the 'Enterprise Value (EV)'

EV = market value of common stock + market value of preferred equity + market value of debt + minority interest - cash and investments.

Obviously you want sp to come down to below 1p so that you can get on board. If you are current shareholder, you wouldn't call Distil's valuation absurd. imo, Distil's sp is worth 4p+ based on it's brand value (revenue is growing slowly but surely and £10m+ is achievable within next couple of years).

imo, Distil's estimated forecasts for 2019, 2020, 2021 are much too low and very conservative. The growth will be 20% above estimated forecasts.

Progressive Equity Research Report (June 2018):
A successful year of both profit growth and cash generation.
Following the substantial reduction in H1 operating loss, Distil had a very strong H2, which resulted in FY18 growing to £157K from £10K in FY17. H2 PBT came in at £178K, some 135% higher than the prior year figure of £76K. Turnover growth of 23% resulted from strong - and broadly similar - volume growth across the core RedLeg spiced rum and Blackwoods gin brands, supported by a return to good growth at Blavod. Total volume growth was 31% and was strong across all trade channels, benefitting from new listings and listing extensions over the past two years. Operating cash flow of £166K saw the year end cash position improve to £1031K (vs £910K last year).
▪ Delivering growth and cash: One of the most pleasing aspects of this year’s progress is that Distil has delivered a positive operating cash flow performance on top of an improving bottom line performance. Gross margin improved by around 30bps, and with advertising & promotion (A&P) spend down slightly in relation to turnover, this resulted in a 60bps improvement in the contribution margin. Management’s cost discipline saw other administrative expenses held flat, with the overall EBIT margin expanding by 720bps to 7.8%.Year-end net cash of £1031K was up by £121K (+13%) over last year.
▪ Volume growth: The core RedLeg spiced rum and Blackwoods gin brands saw volume growth of 37% and 32% respectively. Having only begun its roll-out from January 2018, we would expect continued strong growth in FY19E from the new Blackwoods 2017 Vintage dry Gin, with its new proprietary bottle and packaging design. Economic recovery in Eastern Europe helped Blavod to a 34% volume increase, albeit largely through licensed sales, where Distil books only commission into turnover. Progress has also been made in opening up new export markets including France and additional Eastern European countries.
▪ Increased brand investment in FY19: Maintaining momentum is key for developing brands, and Distil is to step up its brand investment in FY19E, putting its cash resources to good use by underpinning future growth. Combined with a more considered approach to US distribution, with the company seeking a long-term strategic partner, the lagged impact of the increased marketing effort will hold back profit growth in FY19, before resuming a stronger growth curve from FY20E.
FYE MAR (£M) 2017A 2018A 2019E 2020E 2021E
REVENUE 1.64 2.01 2.50 3.00 3.51
ADJ EBITDA 0.01 0.16 0.17 0.41 0.60
FULLY ADJ PBT 0.01 0.16 0.16 0.40 0.59
FULLY ADJ EPS(P) 0.00 0.03 0.03 0.08 0.12
EV/SALES(X) 7.2 5.9 4.7 3.9 3.4
EV/EBITDA(X) 865.5 72.3 70.4 28.8 19.7
PER(X) 1,329.80 81.5

Xeros Technology are trading at 46p, they have been loss making company. Their last year revenue was £2m and loss £32m. Whereas Distil made profit on revenue over £2m and yet they are trading at below 3p. How come?

The writer Jacob Boyd got it wrong. Distil is not average mining type companies, p/e ratios are meaningless as company's policy is to develop brands and sell it to larger beverage companies as larger companies have bigger budget to take it's brands to higher level. Having said that Distil is quietly expanding it's presence around the globe. They now have presence in EU, BR:IC countries and USA dealership is in the pipeline. The revenue is well poised to hit 7 digits (10m+) and once the revenue hits £10m brand sale will happen. The writer Jacob Boys ended his article as follows:
"What this means for you:

If your personal research into the stock confirms what the P/E ratio is telling you, it might be a good time to rebalance your portfolio and reduce your holdings in DIS. But keep in mind that the usefulness of relative valuation depends on whether you are comfortable with making the assumptions I mentioned above. Remember that basing your investment decision off one metric alone is certainly not sufficient. There are many things I have not taken into account in this article and the PE ratio is very one-dimensional. If you have not done so already, I highly recommend you to complete your research by taking a look at the following:
1.Financial Health: Are DIS’s operations financially sustainable? Balance sheets can be hard to analyze, which is why we’ve done it for you. Check out our financial health checks here.
2.Past Track Record: Has DIS been consistently performing well irrespective of the ups and downs in the market? Go into more detail in the past performance analysis and take a look at the free visual representations of DIS’s historicals for more clarity.
3.Other High-Performing Stocks: Are there other stocks that provide better prospects with proven track records? Explore our free list of these great stocks here."
If you click highlighted links of above 1,2,3 points you will see opposite of what he said in his opening paragraph. Distil is well poised to become major brands companies worth over £1000m.

SP will be upwardly mobile after revenue hits £5m+ which imo will be achieved in the near future. DYOR GLA.

Enjoy long weekends with: Pina Colada cocktail with Red Leg Rum, coconut cream or coconut milk, and pineapple juice, usually served either blended or shaken with ice. It may be garnished with either a pineapple wedge, maraschino cherry, or both.

Redleg Rum cocktail for the bank holiday weekends:
Who else is fired up for the long weekend?! To help you get into the Notting Hill Carnival spirit, we're bringing you a taste of island life with our Pincho Punch 🍹🍹

Grab a big punch bowl or dispenser
Add:
1 Bottle RedLeg (700ml)
2 litre cartons Cranberry juice (Ocean Spray)
2 Litres Pineapple juice
Juice of 6 limes (~150 ml)
4 sprigs of mint.
Let it sit on ice for 30 mins before serving to allow mint to infuse.

Rumbo cocktail:
Fill a shaker half full with ice cubes. Pour all ingredients into shaker and shake well. Strain drink into a Cocktail Glass.
Ingredients:
• 2 oz. Red Leg Spiced Rum
• 1 oz. Lemon juice
• 2 tsp. Grenadine

Red Leg Spiced Rum makes fantastic RUMBO mix according to Rum Club.

Reading between the lines, Distil Plc has the potential to become super multi billion sterling company which is very rare in these days. Revenue is up, profit is up, cash at bank is up...imo we should see £10m revenue in the near future with 10%-15% net profit.

Of course they can using bank loan. They have good distribution sytem in EU & North America, they can easily expand into BRIC countries. RedLeg can easily recover £50-£60m in couple of years depending on distribution system across the globe.

Skid35 if you listen to the CEO Don Goulding you will learn that he is in business of creating/developing brands then sell them to large organizations who have the ability to take it to next level. IMO RedLeg is worth over £60m.

Good work Haggis. Might I add further: Marie Brizard Wine & Spirits (MBWS): Potential Buyer of Distil’s brands
The company operates primarily in France, Poland, and in the United-States, producing and distributing a range of wines and spirits, such as the vodka brands Sobieski and Krupnik, the whisky William Peel, the liquor range Marie Brizard, the Gautier cognac, and the tequila San Jose. It also owns a wide range of wines, including Moncigale, Marques del Puerto, and the flavoured wine brand Fruits & Wine.
Shareholders:
As of March 22, 2018, the largest shareholders of the company are:[2][3]
Cofepp : 29.47%[4]
Diana holding : 13.90%[5]
Schroder IM : 4,98%
DF Holding : 4.94%[6]
Others : 46.71%

Distil to follow soon (this year imo).