Business
Final results for year ended 31 March 2017
Final results for year ended 31 March 2017.
About this update from Distil Plc
[{"type":"text","content":"\n \nRNS Number : 3119H Distil PLC 07 June 2017 \n\nDistil plc\n(\"Distil\" or the \"Group\")\nFinal Results for the Year Ended 31 March 2017\n\"Strong growth in brand volumes and revenues delivers maiden profit\"\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 2017.\nOperational review\n \n· Sales volumes and revenues growing strongly across all trade channels\n· Major distribution gains across both the On-Trade (pubs and bars) and Off-Trade (retail) including independents, wholesale and nationwide chains. \n· Launch of our proprietary packaging for RedLeg spiced rum. \n· Increased investment in social media reach. \n \n \nFinancial review \n \n· Turnover, supported by increased marketing investment, increases 40% to £1,642k from £1,169k\n· Gross profit increased 40% from £681k to £950k\n· Margins maintained at 58% for the same period, year-on-year\n· Other administrative expenses increased 11%\n· Operating profit of £10k compared to prior year loss of £97k\n· Cash reserves of £910k at 31 March 2017 \n \n \nDon Goulding, Executive Chairman of Distil, said:\n \n \"We are pleased to report a profit on our owned brands for the first time. This represents a major milestone in the long-term development of our business and a platform on which to grow and expand. Our performance reflects the energy and focused efforts of our small but dedicated team. This together with further increases in marketing investment and promotional activity, helped drive broader reach to a greater number of consumers in a fast-moving market\n \nWe anticipate sustained growth of premium spirits and will therefore build on our proven marketing strategies to advance our brands. In addition, we are also exploring new products to build on the success of our existing brands\"\n \n \n \n\n\n \n\n\n\n\nDistil PLC\n\n\n\n\n\n\n\nDon Goulding, Executive Chairman\nShaun Claydon, Finance...