Business
Final Results for year ended 31 March 2021
Final Results for year ended 31 March 2021.
About this update from Distil Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 7165B\n Distil PLC\n 14 June 2021\n \n \n \n \n Distil plc\n \n \n (\"Distil\" or the \"Group\")\n \n \n Final Results for year ended 31 March 2021\n \n \n \"Rising to the challenge\"\n \n \n Distil plc (AIM: DIS), owner of premium drinks brands RedLeg Spiced Rum, Blackwoods Gin and Vodka, Blavod Black Vodka, Trøve Botanical Spirit, Jago's Cream Liqueur and Diva Vodka, announces its final results for the year ended 31 March 2021. \n \n \n Operational review\n \n \n \n \n \n · \n Multi award winning new-to-world brand \n TRØVE Botanical Vodka launched into the UK market in three varieties; Valencia Orange & Lime, Raspberry, Lemongrass & Mint and Green Apple & Ginger.\n \n \n · \n RedLeg Banana Rum and RedLeg Tropical Rum successfully launched into the UK market\n \n \n · \n Ready-to-drink (\"RTD\") RedLeg Pineapple Rum with Franklin & Sons Ginger Ale launched and listed in major UK retailers\n \n \n · \n Increase in Marketing headcount and brand investment \n \n \n · \n Increase in Product Development headcount, resources and investment\n \n \n · \n Geographic footprint continues to grow. New markets opened in Austria, Hungary, Slovakia and Africa\n \n \n \n \n \n \n \n \n Financial review\n \n \n \n \n \n · \n Turnover increased \n 48% to £3,616k (2020: £2,441k)\n \n \n \n · \n Gross \n profit increased 39% to £2,010k (2020: £1,446k)\n \n \n · \n Margins decreased to 55.6% (2020: 59.2%)\n \n \n · \n Advertising and promotion spend increased 61% to £1,071k (2020:£665k)\n \n \n · \n Other administrative expenses increased 9% to £651k (2020: £597k)\n \n \n · \n Operating \n profit increased 38% to £254k (2020: £184k)\n \n \n · \n Net cash \n inflow of £204k (2020: £210k outflow) resulting in year-end cash reserves of £1,062k (2020: £858k)\n \n \n · \n Net assets \n of £3.81m (2020: £3.43m) at 31 March 2021\n \n \n \n \n \n \n \n \n Don Goulding, Executive Chairman of Distil, said:\n \n \n \n \n \n \"I am pleased to report significant growth and development of our business in the year ended 31 March 2021.\n \n \n Our small but talented and impressive team were able to respond rapidly to the unique Covid pandemic related challenges we faced throughout the year. Despite prolonged closure of the important hospitality and travel retail s...