Business
Interim Results for 6 months ended 30th Sept 2017
Interim Results for 6 months ended 30th Sept 2017.
About this update from Distil Plc
[{"type":"text","content":"\n \nRNS Number : 3842U Distil PLC 24 October 2017 \n\nDistil plc\n \n(\"Distil\" or the \"Group\")\n \nInterim Results for the six months ended 30th September 2017\n \n \nDistil (AIM: DIS), owner of premium drinks brands; RedLeg Spiced Rum, Blackwoods Gin and Vodka, Blavod Black Vodka, Jago's Cream Liqueur and Diva vodka, today announces its unaudited interim results for the six months ended 30th September 2017.\n \nOperational review:\n \n· Increased investment in marketing activity at the point of sale and events.\n· Development of Blackwoods new vintage for launch in early Q4\n· Investment in proprietary bottle and new packaging for Blackwoods Gin and Vodka.\n· Continued growth in on-trade distribution for RedLeg Spiced Rum and Blackwoods Gin.\n \n \nFinancial Review - versus same period last year:\n \n· Revenue increased by 22.8% to £0.818m (2016: £0.666m)\n· Gross profit increased by 22.1% to £459k (2016: £376k)\n· Volume (litres) increased by 41.3%\n· Investment in brand marketing and promotion increased by 36.3% to £199k (2016: £146k) \n· Other administration costs were flat\n· Reduction in operating loss of 68.1% to £21k (2016: £66k)\n· Cash reserves of £690k (2016: £883k)\n \n \nDon Goulding Executive Chairman, commenting on these results said:\n\"We continued to deliver strong year-on-year growth across our brand portfolio in the six months to 30th September 2017 despite lapping prior year pipeline fill in major retailers.\nDuring this period we increased our brand marketing investment to extend our reach directly with consumers at festivals and at the point of sale. Importantly we increased marketing funds to cover development costs of our new Blackwood's vintage and new packaging across the Blackwoods Gin and Vodka range for launch in Q4 of our fiscal year.\nWe are pleased to report that our key brands have outperformed each of their respective categories overall during the period.\"\n \nExecutive Chairman's Stat...