Another year of strong sales growth
Distil’s full-year trading update for FY21 bears witness to strong sales and EBITDA growth, despite the challenges presented by Covid. The company’s New Product Development (NPD) activities have also delivered product portfolio expansion, with further products coming to market in 2021, thereby underpinning future growth prospects. Unaudited figures for FY21 show revenues increasing 48% to £3.616m, with adjusted EBITDA rising by around 55% to £302K on a like-for-like (LFL) basis. Strong cash generation saw year end cash reserves rise to £1m, compared with £858K at the prior year-end and £570K at the interim stage.