Published: Jan. 10, 2024 at 2:55 a.m. ET
By Ian Walker
Distil PLC said third-quarter revenue rose 39% while volumes rose 10% as it benefits from the business remodel in 2022, and that it expects to build on this growth over the fourth quarter of the fiscal year.
The London-listed spirits producer–which houses the RedLeg Spiced Rum, Blackwoods Gin and vodka, and Blavod Black Vodka…
By Ian Walker
Distil PLC said third-quarter revenue rose 39% while volumes rose 10% as it benefits from the business remodel in 2022, and that it expects to build on this growth over the fourth quarter of the fiscal year.
The London-listed spirits producer–which houses the RedLeg Spiced Rum, Blackwoods Gin and vodka, and Blavod Black Vodka brands among its portfolio–said Wednesday that revenue for the quarter ended Dec. 31 was 571,000 pounds ($725,798) against GBP411,000 for the comparable period a year earlier, making GBP1.2 million and GBP870,000, respectively, for the full nine months.
“Despite the medium-term macro outlook continuing to be challenging as the overall spirits market remains soft due to increased pressures on consumer spending, we are encouraged by a positive quarter and the growth achieved year-to-date,” Chairman Don Goulding said.
“Thanks to the flexibility afforded by our business remodel, we are confident that we can continue to build on this growth in Q4, ensuring that our brands and business is well positioned into the new financial year.”
Write to Ian Walker at ian.walker@wsj.com
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