Distil PLC Trading Update (6690W)

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 
------------------------  ---------------------- 
 Don Goulding Executive    Tel: [phone] 
  Chairman 
------------------------  ---------------------- 
 SPARK Advisory Partners 
  Limited (NOMAD) 
------------------------  ---------------------- 
 Neil Baldwin              Tel [phone] 
  Mark Brady                / 8971 
------------------------  ---------------------- 
 SI Capital (Broker) 
------------------------  ---------------------- 
 Andy Thacker              Tel [phone] 
  Nick Emerson 
------------------------  ---------------------- 
 

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

END

TSTLLFIISTITFIR

(END) Dow Jones Newswires

April 29, 2016 02:00 ET (06:00 GMT)