Distell boosted by growing beverages demand
South African drinks maker Distell, set to be taken over by Dutch beverage company Heineken, has reported that its full-year profit rose by 36.7%, as consumers bought more wine, ciders and spirits despite cost of living pressures.
The maker of J.C. Le Roux sparkling wine, Savanna cider and Klipdrift brandy sold more alcohol than expected, as all three categories grew revenues by double digits.
Distell grew headline earnings per share, the main profit measure in South Africa, to 1,051.8 cents in the year to 30 June, compared to 769.6 cents a year earlier.
The maker of J.C. Le Roux sparkling wine, Savanna cider and Klipdrift brandy sold more alcohol than expected, as all three categories grew revenues by double digits.
Distell grew headline earnings per share, the main profit measure in South Africa, to 1,051.8 cents in the year to 30 June, compared to 769.6 cents a year earlier.
In African markets, outside South Africa, revenue increased by 14.4% on 16.3% higher sales volumes, while sales in international markets outside Africa increased by 7.9% alongside volume growth of 9.4%, primarily driven by single malts and Amarula cream liqueur.
Courtesy of Bizcommunity – read full article here.
