Distil’s trading update notes the Ardgowan whisky distillery, in which Distil has a £3m investment, is now fully operational and has begun to lay down casks for future bottling. The distillery is accessing £10m of debt financing and is generating near term revenue from, inter alia, the sale of private casks which we believe have totalled 50 so far this year (est. revenue of c.£400k). The trading update also stated Distil’s Q1 (Apr-June) revenues of £67k were down 50% on the same period in 2024. The revenue figure was heavily influenced by the new distributor, Global Brands, stock building in March. Looking at the H1 calendar year result to remove monthly distortions, revenues were up 9.3% year on year. Distil also announced the launch of a shareholder benefits programme providing reduced prices to shareholders on both Distil’s brands and on purchases of private casks from the Ardgowan distillery.
