Business
Interim Results for 6m ended 30 September 2021
Interim Results for 6m ended 30 September 2021.
About this update from Distil Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 3044P\n Distil PLC\n 18 October 2021\n \n \n \n \n Distil plc\n \n \n \n \n \n \n (\"Distil\" , the \"Company\" or the \"\n \n \n Group\n \n \n \")\n \n \n \n \n \n \n Interim Results for the six months ended 30 September 2021\n \n \n \n \n \n \n \n \n Distil plc (AIM:DIS), owner of premium drinks brands RedLeg Spiced Rum, Blackwoods Gin and Vodka, TRØVE Botanical Vodka\n and \n Blavod Black Vodka is pleased to \n announce its unaudited interim results for the six months ended 30 September 2021.\n \n \n \n \n \n Operational highlights:\n \n \n \n \n \n · \n RedLeg Tropical Rum launched into the UK market\n \n \n · \n Additional listings secured for the Redleg Spiced Rum range\n \n \n · \n TRØVE Botanical Vodka\n \n listed in \n \n prestigious premium UK \n retailer\n \n \n · \n TRØVE Trademark successfully registered in USA\n \n \n · \n New export market opened in Ukraine\n \n \n \n \n \n Financial* and corporate highlights \n \n \n \n \n \n · \n Turnover decreased by 23% to £1.44 million (2020: £1.88 million) (2019: £824k)\n \n \n · \n Gross profit decreased by 23% to £794k (2020: £1.03 million) (2019: £499k)\n \n \n · \n Volumes (litres) decreased by 21% (increased 49% over volumes in same period in 2019)\n \n \n · \n Investment in brand marketing and promotion decreased by 30% to £398k (2020:£565k) (2019:£219k) \n \n \n · \n Adjusted** administrative costs increased by 10% to £338k (2020: £307k) (2019: £279k) \n \n \n · \n Adjusted*** operating profit of £58k (2020: £159k) (2019: £1k)\n \n \n · \n Operating loss of (£44k) (2020: £154k profit)(2019:£1k profit)\n \n \n · \n Cash reserves at period end of £4.22 million (2020:£570k) (2019: £836k)\n \n \n · \n Successful equity fund raise of £3.20 million (before expenses) to invest in \n Ardgowan \n Distillery Company Limited \n to support \n the \n development of \n a \n new \n Malt Scotch\n and provide a 'home' for Blackwoods \n G\n in\n , with its own distillery, gin school and visitors' centre \n \n \n · \n Appointment of Michael Keiller as Non-Executive Director\n \n \n \n \n \n \n \n \n *Due to the unprecedented one-off surge in sales in the prior period, especially during Q2 (June-September), caused by the impact of lockdown and associated unusual trading patterns, the above fin...