Published on: October 19, 2021

Interim Results – Strategic investment in Ardgowan

Distil faced very tough sales comparatives in H1 against the exceptional prior year performance (+128%), driven by the extraordinary circumstances arising from the pandemic. While reflected in the current year performance, Distil delivered strong underlying growth on a two-year view against its pre-Covid sales base (+74%). Turnover declined by 24% in H1 to £1.44m, with gross margin up 40bps to 55.3%. Adjusting for share-based payments and one-off costs related to the Ardgowan investment, Distil delivered an operating profit of £58k, compared with £159k last year. Distil will provide market guidance after the key Christmas trading period, given ongoing disruption to the supply chain and associated cost pressures.

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