Share Name Share Symbol Market Type Share ISIN Share Description
Distil Plc LSE:DIS London Ordinary Share GB0030164023 ORD 0.1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 1.25 386 01:00:00
Bid Price Offer Price High Price Low Price Open Price
1.10 1.40 1.25 1.25 1.25
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Beverages 3.62 0.24 0.07 17.9 9
Last Trade Time Trade Type Trade Size Trade Price Currency
13:09:12 O 386 1.295 GBX

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17/6/202217:07Distil PLC - Here's to a spirited future!10,201
24/4/202218:47******** DISTIL - That'll be a DOUBLE ! *********350
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Distil Daily Update: Distil Plc is listed in the Beverages sector of the London Stock Exchange with ticker DIS. The last closing price for Distil was 1.25p.
Distil Plc has a 4 week average price of 1.25p and a 12 week average price of 1.20p.
The 1 year high share price is 2.70p while the 1 year low share price is currently 1.20p.
There are currently 684,399,579 shares in issue and the average daily traded volume is 60,853 shares. The market capitalisation of Distil Plc is £8,554,994.74.
petersinthemarket: The reporting of comparative reductions in Revenue and Gross Profit in our 2021/22 financial year has yet again caused predictable damage to the share price. Although there is little transfer activity of any size in DIS shares, most smaller traders have taken the usual superficial view of events and sold, probably at a loss. Not surprisingly, all the major investors (owning more than 3%), who own 40% of the issued shares, see greater value in the company and are holding tight. And so are the other roughly 30%+ who own less than 3%, but 1% or more. It is important to note that the distorted perception was due to a massive leap in Revenue and Gross Profit in the previous (2020/21) year to £3.616m and £2.1m respectively. This was plainly a one off event, caused by the effects of the Covid pandemic. It was widely reported that many suppliers of alcoholic beverages saw substantial increases in on-line purchases and home consumption due to the depressing effects of the lockdowns which began in March 2020. There was also heavy overstocking by suppliers who feared disruption to stock movements and raw material supplies, especially across national borders. All of this has gradually unwound during the last financial year, bringing business back towards a more normal level. The impressive 2020/21 results were a useful bonus, but they should not be allowed to mask the underlying business trend, which is excellent. If a more logical comparison is made between the 2021/22 year and the 2019/20 year, it can be seen that Revenue increased from £2.441m to £2.942m and Gross Profit increased from £1.446m to £1.629m, increases of 20% and 13% respectively. In fact both of these key markers have shown useful increases year on year (except 2021/22) since before 2017/18, indicating that our business is still growing well. It may surprise some to learn that DIS has only 7 employees, including Directors. This is largely due to the fact that liquid production and bottling and the distribution of our products is, at the moment, farmed out to reliable partners. The company is tightly and prudently managed and the addition of Roland Grain and Mike Keiller to the BoD is already adding substantial benefits. Production of gin and vodka liquids has already moved from the Midlands to Scotland in anticipation of the completion of our own distillery and visitor centre in Inverkip, near Glasgow, around the end of the year. We also expect to see a blended whisky later this year and a new malt whisky in cooperation with Ardgowan in 2026 (whisky distillery opening 2023). The connection with the Ardgowan site is likely to prove very exciting and productive in the next few years. In the meantime, we have a strong and growing range of spirits, currently dominated by RedLeg, but with good support from gin and with Scotch arriving soon. Our home market still forms the major part of our business, with exports comprising around 15% of total Revenue, but Export markets are gradually reopening and our products are well accepted in several countries. For example, our gin is very popular in the Netherlands and Spain, RedLeg has sold well in Australia and our vodkas are appreciated in duty-free and eastern Europe. There are still major administrative issues at the UK border, but it is hoped that these will gradually ease, to allow exports to become a more important part of our business. In summary, DIS remains of little interest to short term traders, but serious long term investors are firmly on board, confident that the company is healthy and well managed with a sound and growing future.
petersinthemarket: You are right Tommy. I used to watch those tip sheets a decade or so ago. Not sure if that sort of instability is very desirable for us today actually. It could tend to bring in the day traders, rather than the serious small investors, but anything would be more interesting than the boredom of the present share price chart. Things might perk up a bit if the coming finals are interesting. In addition to the annual results there could be something further on Ardgowan and our first whisky blend, which was promised for this year. I noted that the Ardgowan-related Placing announcement last year also included a one-line hint about a DIS online sales website. That would be great. Not sure if it has to wait for Ardgowan progress or not. Don't see any reason why it couldn't go right now as, with the excepion of whisky, we have a reasonably broad range of goods to offer right away and it would showcase the whole portfolio together. I think the current individual bitty routes to market for each of our brands don't really tell potential customers what we have on offer. We have two new big hitters on the BoD these days and their push is already making a big difference. Patience is my problem. pete
petersinthemarket: > Haggis - I know you favour selling a DIS brand to provide lots of working capital, and that was originally the BoD's stated intention, but the published strategy has changed. I'm not sure when, but the quote below has been on the website for quite some time. DG has said he would have to consider any serious offer, but I suspect it would have to be something really special as DIS is his hobby as well as his business and I seriously doubt he will ever willingly sell anything. This is what it says on the DIS website: ''The Company is listed on AIM and is pursuing a strategy to develop a range of its own alcohol brands and market them globally through arrangements with local market distributors. The focus is to build an agile, low-overhead business and compete in attractive spirit categories such as premium Vodka, premium Gin and Rum''. I suppose we would have to add whisky to that now. pete
buoycat: As we know, sometimes an share price moves significantly on no volume. It's the share price that often drives volume, not the other way round! Volume can say something about the significance of a price move though.
petersinthemarket: #10136 - I don't disagree with your sentiments Haggis, but unfortunately imo the chances of RG taking us 100% are slim. At his current holding he would only need a few more million to reach the critical 30% where he would be obliged to make an offer for the rest. He will be well aware of that and imo would have done it by now, if he was going to. He is a multi millionaire with a large, broadly spread, successful business. I suspect his only interest in us is as a route to his passion, which is whisky, which he is already doing. I have carried out considerable research on RG's empire. Most of his money has come from his employment agencies in Austria, Germany and across a broad sweep of eastern europe. As you know, he also has spirits interests in Austria, Australia, London, Scotland and DIS. I suspect he makes good money out of his Austrian retail/wholesale spirits business - at last count, 1250 different products, the bulk of which are Scottish whiskies. I doubt he makes anything out of the others. He has occasionally bought a business outright, but only where control was essential. More commonly, he only buys a big enough chunk to give him insider influence. And that's where we stand with DIS today. Supposing for a moment that he did buy DIS, he is resident in Austria and would be unable to spend 3 days a week plus to manage DIS effectively. As it happens, this would certainly not bother him. In his other businesses, he has usually been an absent owner and occasional visitor and left the original owner to run things for him. Without inside knowledge, I could obviously be wide of the mark, but I strongly suspect he's only here for the whisky and wouldn't want the rest of our business. pete
haggismchaggis: Peter, Re post 10111, thanks for the numbers :) So DIS is ridiculously undervalued, as suspected!! "Diageo has announced that it has sold it's Windsor blended whisky business to a private South Korean equity group for £124m." versus DIS MCap of just GBP8.55m. DIS is so far under the radar, it's like a stealth bomber that's hidden in a secret underground bunker. How does DIS get itself rerated, without some big company putting in a low ball offer to acquire DIS and then a bidding war kicking off??
petersinthemarket: Thanks for response Haggis - I keep thinking I'm last man in! I have never bothered to look at the high strength stuff. Always seemed too expensive to me, but I take your point about using less (if I could be trusted). I drink rum neat, so it's no good for me, but the high strength stuff might work well for those using it as a mixer. The legal minimum for spirits in EU/UK is 37.5abv, if you want to call it rum, etc., on the label. I note that our main rum competitor, Captain Morgan, is only 35%, but they don't have rum printed on the front label. Their abv reduction may be part of the reason that they can afford to sell the stuff at a fixed price around £15, whereas RedLeg only does that via the Tesco discount price for cardholders. It usually hovers between £20/22 near me. Must say, the DIS share price is truly shocking now. 1.15/1.30. The II's who bought at 2.00 must be disappointed. Surely this can't be to do with the war. (Sorry, peace keeping excersize). Persistant selling in fairly small quantities for weeks now. I reckon it's boredom. DIS messed things up with the placing for Ardgowan, even though it might come right in the future. We've a long wait (2025?) for a good single malt, although we should see a blend sometime this year. If the share price keeps performing like this, I might well be the last man in.
petersinthemarket: As a result of the Ardgowan agreement last year, our DIS future will be busy. Here's a rough guide. Short term, during 2022: DIS expect to launch a range of branded blended premium malt whiskies in 2022. Ardgowan has full planning permission for the new joint site. Site clearance and preliminary building arrangements have begun. DIS has access to a Master Distiller now (eventually at new site). Ardgowan can market DIS products alongside it's own, at their discretion. DIS will use it's export distribution network to aid export marketing of Ardgowan products. Under the loan agreement DIS will receive 5% pa interest on up to £5m, paid quarterly. DIS interest income will amount to a minimum £150k pa at the start, rising to £250k pa. During the loan term, Argowan has pledged a minimum of 10% of it's whisky production capability to DIS. Near future: DIS will transfer production of Blackwoods gin, vodka, plus Trove, to new site. (These are currently produced under licence in Birmingham and Scotland. DIS will operate a visitor centre for it's products. DIS will in due course own 14.28% of the new company's share capital. DIS will produce branded new products and line extensions at new site. DIS will develop it's own on-line product sales facility.
petersinthemarket: >...pope I enjoy the basic RedLeg and buy (Tesco) whether discounted or not, but who the discounter may be interests me. The law says that retail price maintenance is illegal, ie a producer cannot tell a retailer what price to sell at. I have been assured by DIS that it is the retailer who decides on discounts and also takes the price hit in order to raise their own sales volume. I suppose the producer could decide to sell to the retailer at a lower price to share the pain but with a retailer like Tesco that would be a very slippery slope as they might well refuse to buy at the old higher price later. If there is anyone on here with practical experience in this area I would welcome some comment.
petersinthemarket: As it's a bit quiet atm, let me give the pot a stir. Let us assume for the moment that the doubters are correct and that Roland Grain is hoping to acquire Distil Plc in due course. There are several ways he could get control. For instance, he could become CEO when Don Goulding retires, or when he buys a greater stake and forces DG out. This still leaves DIS as a public company and as investors we could benefit from the renewed interest. In theory, he could buy up to a 51% controlling share in DIS, but this would be difficult without the support of other major holders. Personally, I don't think he would get the support for such a move as the larger holders also tend to be the solid backers who have loyally held for a long time. He could conspire, with loans from others, to buy DIS outright and then buy out the loans in due course. Also unlikely without support from the long term backers, in my opinion. As far as the rest of us are concerned, most moves along these lines should tend to increase the share price to our advantage and we are here to make a profit in the end, aren't we. An equivalent risk is that some giant will come out of the blue and gobble us up wholesale. This is certainly possible and the right buying price would trump all. It would ruin RG's game and should also make us all a profit, so why worry? However, just for further interest, here are a couple of imponderables to chew on. Did anyone notice that BERO (Part of the Rothschild empire) has come back into the light at last. It was undeclared for a few years and they held over 13% last time I looked and are old mates in right from the start. I don't think they would sell out. We don't know what RG's intentions are for ELLC (private) where he is a director, but it seems unlikely that such a basket case could acquire DIS, with or without RG's help. We also know that RG has a big, but not controlling, share in Manly (Australia). I don't think they will change our course of events, but they might help us with our exports. Finally, just to intrigue the doubters, whenever RG has acquired full control of any company in the past it has always been private, or subsequently been taken private. He has no previous record of a controlling interest in a public company. I believe that the more likely scenario is that this company will continue to grow and prosper and that every serious investor in it wants exactly the same thing. pete
Distil share price data is direct from the London Stock Exchange
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