Final Results
"Strong growth in brand volumes and revenues across key markets"
Distil (AIM: DIS), owner of premium drinks brands including Blackwoods Gin and Vodka, RedLeg Spiced Rum, Blavod Black Vodka, Diva Vodka and Jago's Vanilla Cream Liqueur, announces its final results for the year ended 31 March 2016.
Operational review
· RedLeg Spiced Rum listed in 2 major UK supermarket chains
· Commenced shipments of Blavod Black Vodka to the USA, where we had been absent for several years
· International and domestic sales volumes growing strongly
Financial review
· Turnover, supported by increased marketing investment, increases to £1,169k from £666k
· Gross profit increased 68% from £406k to £681k
· Margins reduced from 61% to 58% for the same period, year-on-year
· Other administrative expenses reduced by 17%
· Operating loss reduced by 66% from £286k to £97k
· Cash reserves of £982k at 31 March 2016
Don Goulding, Executive Chairman of Distil, said:
"We are pleased to report strong growth year-on-year on the back of increased investment in our brands. The overall business has been transformed and simplified over the past three years and we are benefiting from focus on each of our brands. The recent TTB approval of RedLeg Spiced Rum will further enhance our presence in the important USA market and, with planned further marketing investment across all our brands, we look forward to building on the significant progress made to date."