Business
Final Results for the Year Ended 31 March 2019
Final Results for the Year Ended 31 March 2019.
About this update from Distil Plc
[{"type":"text","content":"\n \nRNS Number : 5755B Distil PLC 10 June 2019 \n\nDistil plc\n(\"Distil\" or the \"Group\")\nFinal Results for the Year Ended 31 March 2019\n\"Another year of strong top line growth driven by focused investment and targeted activity in support of our key brands\"\nDistil (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 2019.\nOperational review\n \n· Increased investment in marketing at the point of sale\n· Development of RedLeg Caramelised Pineapple Spiced Rum for launch in the summer of 2019\n· Development of new gift packaging and miniature bottle format\n· New markets opened for our brands in Europe, North America and Asia\n· Implementation of operational cost savings\n \n \nFinancial review\n \n· Turnover, supported by further marketing investment, increased 19% to £2,401k from £2,014k\n· Gross profit increased 22% from £1,172k to £1,429k\n· Margins improved to 60% for the same period, year-on-year (2018 : 58%)\n· Advertising and promotion spend increased 48% from £465k to £688k\n· Other administrative expenses increased by 10%\n· Operating profit of £160k compared to prior year profit of £157k\n· Net operating cash inflow of £85k (2018: £166k) resulting in year-end cash reserves of £1.07m (2018: £1.03m)\n· Net assets of £3.17m (2018: £3.01m) at 31 March 2019\n \n \nDon Goulding, Executive Chairman of Distil, said:\n \n\"I am pleased to report another strong set of results with growth in revenue, profits and gross margins supported by increased marketing investment in our brands. We remain debt free and our cash position improved once again.\nWe will continue to invest in our brands through marketing and promotion which will be particularly important as we anticipate UK consumer confidence will naturally remain fragile through this calendar year. The initial response from the on-trade to our new caramelised pineapple spic...