Distil PLC Trading update (2825J)
April 09 2020 - 2:00AM
UK Regulatory
TIDMDIS
RNS Number : 2825J
Distil PLC
09 April 2020
9th April 2020
Distil Plc
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
2020.
Unaudited Q4 (January - March 2020) volumes and revenues showed
significant year-on-year growth:
-- Volumes increased 80%
-- Revenues increased 97%
-- Investment in brand marketing increased 87%.
Don Goulding, Executive Chairman of Distil, said:
"I am delighted to report a significant increase in the growth
of our business during Q4 at a rate over and above that of the
spirits market.
Overall, the quarter was in line with our ambitious forecast
although, due to world events, we achieved this through a very
different mix, particularly during March. As the outbreak of
COVID-19 advanced through our markets, immediate steps were taken
to protect both our employees and our business. Production timing
was advanced and we moved all staff to working from home with
secure remote access. My team responded well and I thank them for
their efforts in delivering these impressive results during
challenging times and for adapting rapidly to temporary new ways of
working.
Our brands enjoy sales through a tightly managed product range
with a broad distribution base and we have therefore been able to
adapt to the changes in product mix, trade channel shift and
additional uplift in consumer demand. Whilst supply chains have
been seriously tested during this time, we are grateful to our
distributors, customers and logistic partners for their efforts and
skills in maintaining availability of our brands to satisfy this
high level of demand.
Recent press reports indicate a 22% year-on-year increase in UK
alcohol sales during the month of March (Kantar market data, March
2020) as consumers stocked up on essentials, together with their
favourite brands, in anticipation of an extended lock-down period.
Sales revenue for our brands increased 50% year-on-year in
March.
Our sales in Q4, year-on-year, advanced 80% in volume and 97% in
value. This was as a result of strong individual brand performance
together with the impact of Brexit inventories in 2019.
I am pleased to confirm that we anticipate full year performance
for the year ended 31 March 2020 to be in line with current market
expectations.
At this stage it is too early to forecast accurate market trends
over the next six months, but our brands are relatively well
positioned and we will continue to work closely with our trade
partners and customers to ensure we maintain stock cover and
flexibility through this period.
When the market returns to some sense of 'normality' or a new
normality, we will be prepared. It's important for us to continue
to work with both on-trade and off-trade customers to create a
range of new products ready to meet those new and changing consumer
needs. We are, therefore, advancing new product development with
our production partners, designers, distributors and customers.
Like everyone at this time, our thoughts are with those
suffering the effects of this dreadful virus and the heroic
frontline NHS workers risking their health to maintain ours. We are
also mindful of colleagues in the bar trade who are being
negatively impacted and are facing the loss of their job or
business. Our website will shortly be updated to provide
shareholders with more information on how Distil is contributing to
various not-for-profit organisations and charities to support the
industry."
For further Information:
Distil PLC
Don Goulding Executive Chairman Tel +44 203 3001
Shaun Claydon, Finance Director 877
-----------------
SPARK Advisory Partners
Limited (NOMAD)
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Neil Baldwin Tel +44 20 3368
Mark Brady 3550
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Turner Pope Investments
(TPI) Ltd (Broker)
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Andy Thacker Tel +44 203 657
Zoe Alexander 0050
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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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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