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Distil revenues grow in Q3
20th Jan 2020 08:06
(Sharecast News) - Alcoholic beverages manufacturer Distil report higher levels of sales during its third trading quarter on Monday, including the important Christmas period.
Distil said revenues increased 7% year-on-year in the three months ended 31 December, supported by continued levels of up weighted marketing investment.
However, as the AIM-listed firm pointed out in its interim statement, year-to-date sales decreased 13% in revenue and volume, with marketing investment rates maintained.
Chairman Don Goulding said: "Our key brands performed well in Q3, growing volume and value in a highly competitive and changing market place.
"The outlook for the final quarter to 31 March 2020 remains positive with full-year profit out-turn expected to be ahead of last year and broadly in line with market expectations"
As of 1225 GMT, Distil shares had shot up 10% to 0.77p.
Distil said revenues increased 7% year-on-year in the three months ended 31 December, supported by continued levels of up weighted marketing investment.
However, as the AIM-listed firm pointed out in its interim statement, year-to-date sales decreased 13% in revenue and volume, with marketing investment rates maintained.
Chairman Don Goulding said: "Our key brands performed well in Q3, growing volume and value in a highly competitive and changing market place.
"The outlook for the final quarter to 31 March 2020 remains positive with full-year profit out-turn expected to be ahead of last year and broadly in line with market expectations"
As of 1225 GMT, Distil shares had shot up 10% to 0.77p.