S AFRICA: Distell sees FY profits, sales rise
- FY net profits up 12.5% to ZAR1.09bn (US$106.5m)
- Net sales rise 11.9% to ZAR15.9bn
- Operating profits jump 26.6% to ZAR1.8bn
The group saw FY profits and sales up
Distell Group has reported a healthy rise in full-year profits and sales helped by the acquisition of Burn Stewart Distillers and a weak rand.
Net profits in the 12 months of the end of June rose by 12.5% to ZAR1.09bn (US$106.5m), the spirits, wine, cider and RTD producer reported today (21 August). Sales in the period were up by 11.9% to ZAR15.9bn, while operating profits climbed to 26.6% to ZAR1.8bn.
Group volumes in the full-year increased by 7.2%.
The group flagged "exceptionally tough trading conditions, marked by a global slowdown in economic growth, contracted disposable income and reduced consumer spending" in many regions.
But Jan Scannell, Distell's group MD, said the company's performance had been boosted by strong sales and a weak rand. "Steep increases in excise duties and marketing expenses were partially offset by foreign currency conversion gains,” he said.
“However, we also saw the benefits of improved efficiencies in the business and the normalisation of certain raw material input costs. "
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