Distillation volumes and revenues increase in the fourth quarter

Manufacturer of alcoholic beverages Distill said Wednesday that volumes and revenue increased in the three months ended March 31 as part of increased investment in brand marketing and new product development.

Distil recorded a 38% increase in volumes in the fourth quarter, while revenues increased by 32% during the period.

The listed group highlighted that its product RedLeg Spiced Rum remained the main driver of growth, with sales up 37%, while Blackwoods Gin topped the market with volumes up 5%. Licensed Blavod Black Vodka volumes increased by 260% as duty-free outlets reopened, albeit gradually.

Additional marketing funds were invested in the launch of a new Blackwoods 2021 Vintage, which included a brand refresh and new liquid development across the range. The brand, now produced and bottled in Scotland, will be distributed from April.

At the end of March, unaudited cash balances stood at £1.56 million.

Chairman Don Goulding said: “The outlook for the year is positive, provided markets remain open post-Covid. Price inflation will play a key role in determining consumer disposable income and the cost of goods.

“Distil brands are well positioned as affordable, great-tasting premium products that can be enjoyed both inside and outside the home. protect that position.”

As of 10.35am BST, shares of Distil had jumped 16.67% to 1.40p.

Sallie R. Loera