Showing strength in testing times
Distil has reported an impressive H1 performance against a backdrop of volatility and other challenges resulting from the Covid pandemic. The company has delivered a profit before tax of £154K compared with last year’s breakeven position, driven by a sales increase of 128% to £1.9m. The period saw new product launches within the leading RedLeg brand, with more new lines to follow. Distil has increased headcount in both marketing and New Product Development (NPD) to support its future growth. Despite the success achieved in H1, considerable short-term uncertainty remains around the impact of the emerging second wave of Covid and consequent restrictions. The company therefore feels it is prudent not to provide guidance at this stage on the outturn for the full FY21 financial year.