A successful year
Following the substantial reduction in H1 operating loss, Distil had a very strong H2, which resulted in FY18 growing to £157K from £10K in FY17. H2 PBT came in at £178K, some 135% higher than the prior year figure of £76K. Turnover growth of 23% resulted from strong – and broadly similar – volume growth across the core RedLeg spiced rum and Blackwoods gin brands, supported by a return to good growth at Blavod. Total volume growth was 31% and was strong across all trade channels, benefitting from new listings and listing extensions over the past two years. Operating cash flow of £166K saw the year end cash position improve to £1031K (vs £910K last year).