Shares in premium drinks brands owner Distil (LON:DIS) soared over 3 percent on Wednesday, after reporting a ‘strong’ first quarter performance.
The group, who produce premium spirits including Blackwood’s Vintage Gin and Diva Vodka, said momentum in the gin and rum markets was strong and first-quarter performance was in line with expectations.
Over the April to June quarter revenues increased by 27 percent, with volumes soaring by 21 percent compared to the same period a year ago.
Over the six mont period, year-on-year revenues increased by 28 percent and volumes increased 27 percent.
“Growth momentum of our key brands continues at a healthy pace, supported by marketing and promotional activities at the point of sale. The gin and rum markets remain buoyant. Our brand performance within these categories is strong and in line with our expectations,” Don Goulding, Executive Chairman of Distil.
The figures would suggest that Distil’s recent marketing push had paid off, adding that in the coming year it would continue to prioritise product development and build its brand portfolio.
Shares in Distil (LON:DIS) are currently trading up 3.25 percent at 2.22 (0911MGT).