Distell has boosted its trading income by 31%, to R541m for the year to 30 June 2003, mainly through sales revenue that topped R5.2 billion.
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An upbeat Distell chairman, David Nurek, attributed the higher trading figures to sales revenue and a favourable mix, together with improved production efficiencies. An improvement of 39.5% in net profit realised R329.8m.
The strengthening of the Rand, however, had a negative impact on the bottom line, with R66.8m losses in the current year compared with a R68.2m gain last year.
Distell declared a final dividend of 35c a share, resulting a total dividend for the year of 75c compared with 70c in 2002. This represented a dividend cover of 1.9 times by headline earnings.
Nurek said most major brands performed well, with spirits growing by 4%, while wines, boosted by strong performances of more profitable premium brands and sparkling wines, grew by 3.8%. Flavoured alcoholic beverages, however, continued to experience increased competition.
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By GlobalDataInternational sales volumes, excluding Africa, increased by about 18%. The stronger rand impacted unfavourably on international sales revenues, which grew by only 14.7%. Sales revenue from African countries increased by over 5%.
