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Distil revenues up 66%

By BFN News | 07:39 AM | Friday 29 April, 2016


Distil's year-on-year quarter four (Jan-Mar) revenues climbed by 66% whilst volumes rose by 76%, supported by a 61% increase in brand marketing. The higher percentage growth in volumes was largely a result of a temporary shift in volume mix in favour of Redleg, Blavod Black Vodka and Blackwoods Gin Limited Edition. This more than offset the fall in year-on-year quarter four volume shipments of its standard Blackwoods Gin, where the prior year comparative quarter benefited from initial launch sales and pipeline fill in the US. Distil said this was entirely anticipated. Executive chairman Don Goulding said: "We continue to invest in our brands and are pleased to see another strong year-on-year performance with revenues up 66% in the quarter. This is despite strong comparable quarterly revenues in 2015 which included pipeline fill for new markets and were up 13% versus 2014. Trading conditions in Eastern Europe continue to be challenging although encouragingly Blavod Black Vodka sales in that region are showing growth over these three months. "We anticipate full year performance to be in line with the Board's expectations and look forward to reporting our full year results in June 2016. Our plan remains focused on shareholder value creation through the continued investment in and development of our brands. "As we enter the current financial year we remain positive for the prospects of our portfolio of brands and look forward to building on the significant progress made to date." Story provided by StockMarketWire.com

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