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Distil's loss

By BFN News | 07:50 AM | Thursday 04 June, 2015

Distil's FY pretax losses narrowed to £289,000, from £392,000. Turnover fell to £666,000 from £2.4m as it moved from 3rd-party brand distribution in the UK to focus solely on domestic and international sales of its owned brands. Gross profit from owned brands increased 20% to £406,000 and margins on owned brands rose from 46% to 61%. Executive chairman Don Goulding said: "We have now completed the transition from being a third party brand distributor to a brand owning, brand focused business. Despite delays in the early part of the year we made solid progress in the second half with developments in the USA and continued growth in the UK. New listings for our brands in many leading bars and pubs together with one of the biggest UK multiple retailers have increased consumer awareness and trial of our products. I'm delighted to report that this level of improvement in our trading has continued into the new financial year and we are therefore optimistic looking forward." Story provided by

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