Combined net attributable profits of the newly merged South African liquor giant, Distell, declined by 47.8% to a fraction under R121m for the six months to December 2000, with further declines expected during the current period to June. This is the first interim report for Distell, formed by the merger of Distillers Corporation and Stellenbosch Farmers' Winery. They will officially launch the new company in March.