Distil plc (AIM: DIS), owner of premium drinks brands RedLeg Spiced Rum, Blackwoods Gin and Vodka, Blavod Black Vodka, Jago’s Cream Liqueur and Diva Vodka, is pleased to report higher levels of sales during the third quarter ending 31 December 2019, including the important Christmas period.
Year-on-year third quarter (October to December) revenues increased by 7%, supported by continued levels of up weighted marketing investment.
As anticipated in our Interim Statement, year to date sales for the nine-month period April to December decreased 13% in revenue and volume, with marketing investment rates maintained.
Don Goulding, Executive Chairman of Distil, said:
“Our key brands performed well in Q3, growing volume and value in a highly competitive and changing market place.
We maintained our increased levels of investment in marketing and promotional activity over the Christmas period and enjoyed strong customer support especially in Rum which increased volumes by 16% despite intense competition. This was partially offset by reduced volume in gin caused by changes in retailer listings as previously reported.
The outlook for the final quarter to 31 March 2020 remains positive with full year profit out-turn expected to be ahead of last year and broadly in line with market expectations”