13th Oct 2022 13:48
Distil PLC - London-based premium drinks brands such as RedLeg Spiced Rum - Says pretax loss in the six months ended September 30 widens to GBP555,000 from just GBP45,000 a year before, as revenue falls 68% to GBP460,000 from GBP1.4 million. Says it moved towards direct sales of its products, instead of through a distributor during the half. "UK sales are adversely impacted by the removal of inventory from the distributor supply chain as it transitioned away from its UK distributor and to direct sales during Q2", Distil says Gross profit decreases by 74% to GBP210,000 from GBP794,000, and administrative expenses are up 29% to GBP436,000 from GBP338,000 the year earlier. Read More
