S AFRICA: Distell sees H1 profits, sales jump
- Half-year net profits up by 23.7% to ZAR779.2m (US$100.7m)
- Net sales up by 16% to ZAR8bn
- Operating profits up by 22.4% to ZAR1.16bn
- Strong growth in South Africa and overseas
Distell enjoys strong half-year
Distell has reported strong half-year rises in net sales and profits, driven by consumer demand at home and abroad, as well as a weaker rand currency.
Distell said today (17 February) that net sales for the six months to the end of December rose by 15.9% to ZAR8bn (US$1bn). Domestic sales increased by almost 15% in value, driven largely by Hunter's cidr, as well as Amarula cream liqueur, wine and Three Ships whiskies.
Outside of the firm's native South Africa, the group's international division benefited from a weaker rand currency, wine gains in the UK and Sweden and more strong growth across the rest of Africa. International sales rose by 21.6% in value and 10.5% in volume.
The solid sales performance filted down through Distell's results. Operating profits increased by 22.4% on the same period of last year, to ZAR1.16bn, while net profits increased by 23.7% to ZAR779.2m.
Distell's MD, John Scannell, praised a rounded performance. Alongside growth in Africa, which represented 63% of the group's international sales for the period, Scannell said: “We have also been very encouraged by buoyant demand in developing markets in the Asia Pacific region, as well as in the traditional markets of Europe and North America.”
He added: "We saw good export growth across all our product segments and we are particularly proud of our increased share of South Africa’s total bottled wine exports for the period."
For the company announcement, click here.
Distell has appointed a new non-executive director to its board. ...
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