Search Share Prices
Distil brews up strong batch of third quarter results
AIM-listed spirits group Distil saw an increased level of sales during its third trading quarter, including the all-important Christmas period.
Revenues climbed 19% year-on-year over the three months leading to 31 December, with year-to-date sales for the nine month period from April to December growing 21% on the back of a 29% jump in volumes and a 23% increase in marketing investment.
Distil highlighted the fact that volumes had outpaced revenues due to the return to growth in licensed sales of Blavod Black Vodka, particularly throughout the European and duty free markets.
Dan Goulding, executive chairman of Distil, said, "Our brands continued to perform well in Q3 in a highly competitive market, growing both volume and value over the prior year which included significant pipeline fill in national retailers. Major promotional activity during the quarter and a growing consumer awareness of our brands led to a strong sales performance at consumer level across all trade channels including On Trade, Off Trade and online."
"The outlook for the final quarter to the end of March 2018 remains positive with full year out-turn forecast to be in line with market expectations," he concluded.
As of 0840 GMT, shares had advanced 5.68% to 2.51p.