Last checked at 17 Jan 2017 07:00
17 January 2017
Distil Plc
Trading update
Distil plc (AIM: DIS), owner of premium drinks brands RedLeg Spiced Rum, Blackwoods Gin and Vodka, Blavod Black Vodka, Jago's Cream Liqueur and Diva vodka, is pleased to report significantly higher levels of sales during the third quarter including over the important Christmas period.
Year-on-year third quarter (Oct-Dec 2016) revenues climbed by 71%, volumes grew by 56% and brand marketing investment increased by 88%.
Consumer sales advanced across all major trade channels including bars, pubs, retail and on-line retail on the back of stronger marketing support, greater promotional activity, wider distribution and increased consumer awareness of key brands. In addition, export sales were assisted by a weaker pound as international distributors took advantage of the associated price benefits. Licensed Sales of Blavod black vodka to the Eastern European markets continue to be suppressed although they have little impact on overall profitability.
Premium gin remains buoyant in most markets and Blackwoods gin is enjoying good growth. RedLeg continues to make very strong progress on all fronts.
Don Goulding, Executive Chairman of Distil, said:
"Quarter three is our most important trading period so I am delighted to report excellent progress over this Christmas season. We enjoyed an increased level of support for our key brands across all trade sectors as we continue to work closely with our trade partners and customers to help them meet their needs. Our brand investment at consumer level increased to reflect a growing consumer following for our brands.
The premium spirits market outlook remains positive although highly competitive especially in the gin category. We are well positioned to continue our brand building progress. Our focus over the coming months will be to open up new markets for RedLeg and prepare for the launch into the USA. Given the strong sales in the period to date the Board anticipates that the results for the year ending 31 March 2017 will be ahead of current market expectations."
For further Information:
Distil PLC | |
Don Goulding Executive Chairman | Tel: +44 207 352 2096 |
SPARK Advisory Partners Limited (NOMAD) | |
Neil Baldwin Mark Brady | Tel +44 113 2366 266 / 2268 |
SI Capital (Broker) | |
Andy Thacker Nick Emerson | Tel +44 1483 413500 |
About Distil
Distil Plc is quoted on the AIM market of the London Stock Exchange. It owns drinks brands in a number of sectors of the alcoholic drinks market. These include premium spiced rum, vodka, gin, vodka vanilla cream liqueur and are called RedLeg Spiced Rum. Blackwoods Vintage Gin, Blackwoods Vodka, Blavod Original Black Vodka, Diva Vodka and Jago's Vanilla Cream Liqueur.
www.distilplc.com