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."
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