Advertise with fastmoving.co.za
 
 

Distell’s 29% jump in net profit for the year to end-June demonstrated once again that when times get tough, the tough get laagered.
Distell’s 29% jump in net profit for the year to end-June demonstrated once again that when times get tough, the tough get laagered.

Times are tough — but not for Distell

LIQUOR NEWS

By Robert Laing - Aug 24th 2018, 13:38

Distell’s 29% jump in net profit for the year to end-June demonstrated once again that when times get tough, the tough get laagered. 

The diversified liquor group listed one of its ciders, Savanna, and a sparkling wine range, Bernini, as standout products during its 2018 financial year.

Led by these two brands, Distell managed "in the face of increased competition" to grow market share in the period, its results statement said.

Revenue grew by 10.4% to R24bn and net profit by 28.6% to R1.7bn.

Distell declared a final dividend of R2.30, taking its total dividend for its 2018 financial year to R3.95, a 4.2% increase on the prior year’s R3.79.

The group said its South African sales grew 10.1% in sales and 4.4% by volume, "amidst increased costs of living placing pressure on consumer disposable incomes".

"The spirits category showed continued growth, with brandy volumes still resilient and whisky recovering in the second half," Distell said.

The group’s brandies include Klipdrift and Richelieu, and its whiskies Three Ships and Scottish Leader.

"Exceptional gin volume growth continues, at 29.3%, alongside growth of 43.6% from vodka following the acquisition of the premium Cruz vodka brand during the previous financial year."

"The wine portfolio showed revenue growth of 7.4% due to premium wine still benefiting from trading-up by consumers from mainstream brands, which also recovered in the second half of the financial year."

Business Live 

Read more about: sales | profit | liquor group | earnings | distell | brands

Related News

Samsung and KOO win big at the 21st Sunday Times Top Brands Awards
20/09/2019 - 15:12
Samsung and KOO have been announced as South Africa’s Overall Favourite Brands, winning the Grand Prix Awards in the respective Business and Consumer sectors of the 21st Sunday Times Top Brands Survey.

Retail sales remain muted with consumers under pressure
20/09/2019 - 14:31
Retail sales for July marginally declined to 2 percent year on year as sales growth continued to reflect a muted demand in South Africa, with consumers’ discretionary income under strain.

Digital marketing: multi-touch attribution
19/09/2019 - 13:43
The effective tracking of digital marketing campaigns is not as easy as initially thought. One question that often pops up is: at what point did consumer conversion take place? During a campaign, it’s difficult to attribute this correctly, especially with multiple touchpoints such as display and native advertising, sponsored social posts, video ads on mobile or paid-for search results all running consecutively.

Rhodes Food Group's turnover rises amid healthy international growth
16/09/2019 - 11:14
The international turnover of Rhodes Food Group, which makes Bull Brand corned meat and Bisto gravies, rose 13.4% in the 10 months to end-July, boosted by a weaker rand and exports of fruit snacks to the US.

Distell waits for tribunal ruling
16/09/2019 - 10:03
Local alcoholic beverages company, Distell Limited, will have to wait for the Competition Tribunal’s decision whether or not global beer brewer Anheuser-Busch (AB) InBev and SABMiller plc (SAB) have breached their merger conditions by striking exclusive deals with outlets.