Distil PLC Trading Update (6690W)
April 29 2016 - 1:00AM
UK Regulatory
TIDMDIS
RNS Number : 6690W
Distil PLC
29 April 2016
29 April 2016
Distil Plc
("Distil" or the "Company")
Trading Update
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 provide an update on
trading for the final quarter of its financial year ended 31 March
2016.
Year-on-year quarter four (Jan-Mar 2016) 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 our standard Blackwoods Gin, where the prior year comparative
quarter benefited from initial launch sales and pipeline fill in
the US. This was entirely anticipated.
We announced on 11 March 2016 that we had successfully raised
GBP626,259 (before expenses) through a placing of new ordinary
shares with a new institutional investor and certain existing
shareholders. Proceeds from this placing will enable the Company to
continue to build on the sales momentum achieved to date through
further investment in opening up new markets and brand marketing,
both domestically and internationally.
Don Goulding, Executive Chairman of Distil, 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."
For further Information:
Distil PLC
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Don Goulding Executive Tel: +44 207 352 2096
Chairman
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SPARK Advisory Partners
Limited (NOMAD)
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Neil Baldwin Tel +44 113 370 8974
Mark Brady / 8971
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SI Capital (Broker)
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Andy Thacker Tel +44 1483 413500
Nick Emerson
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About Distil
Distil Plc is quoted on the AIM market of the London Stock
Exchange. It owns drinks brands in a number of sectors of the
alcoholic drinks market. These include premium spiced rum, vodka,
gin, vodka vanilla cream liqueur and are called RedLeg Spiced Rum.
Blackwoods Vintage Gin, Blackwoods Vodka, Blavod Original Black
Vodka, Diva Vodka and Jago's Vanilla Cream Liqueur.
www.distilplc.com
This information is provided by RNS
The company news service from the London Stock Exchange
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