The reporting of further loss reduction at the interim stage has been somewhat overshadowed by the more positive news of a listing for its RedLeg spiced rum at a second UK supermarket chain. Distil has delivered a substantial improvement in its interim performance, with a 55% reduction in its pre-tax loss to just £90K. This has been driven by strong top line growth (+89%), especially for its RedLeg brand, driven by distribution gains supported by increased advertising and promotion in what remains a competitive market. In turn, good cost control has seen a 16% reduction in administrative costs.
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DeliveRed Leg Up
Distil PLC (DIS:LON) | 0.6 0 0.0% | Mkt Cap: 5.43m
- Published:
29 Oct 2015 -
Author:
David Jeary -
Pages:
7
The reporting of further loss reduction at the interim stage has been somewhat overshadowed by the more positive news of a listing for its RedLeg spiced rum at a second UK supermarket chain. Distil has delivered a substantial improvement in its interim performance, with a 55% reduction in its pre-tax loss to just £90K. This has been driven by strong top line growth (+89%), especially for its RedLeg brand, driven by distribution gains supported by increased advertising and promotion in what remains a competitive market. In turn, good cost control has seen a 16% reduction in administrative costs.