Published on: June 10, 2019

Another year of progress…

Distil delivered results in line with our forecast expectation at EBITDA and PBT level. FY19 saw a 19% turnover increase, supported by gross margin expansion, with EBITDA and PBT marginally ahead after a 48% increase in brand investment through its advertising and promotional activities. Net cash advanced by almost £40K (+4%) over the year on the back of an operating cash inflow of £85K. Innovation continues apace, with the recent launch of RedLeg Caramelised Pineapple Spiced Rum, along with new gift packaging and miniature bottle formats for RedLeg and Blackwoods Gin. We are reflecting our more cautious outlook on short-term UK consumer spending prospects in our new forecasts, primarily for the current FY20E year.