Drinks brand owner Distil (LON:DIS) saw shares rise over 13 percent on Friday morning, after reporting a jump in both profits and turnover.
The brand, who own Blavod Black Vodka, Blackwoods Vintage Gin and RedLeg Spiced Rum, saw operating profit jump to £0.16 million in the year to end of March, up from £0.01m the previous year. Turnover jumped 23 percent to £1.2 million, with margins unchanged at 58 percent.
“We are pleased to have delivered a strong set of results with significant growth in volumes, revenue and profits, supported by investment in our brands,” said Executive Chairman Don Goulding.
“We look forward to building on this success though further investment in our key brands in the coming year.”
Net operating cash inflow rose to £1.03 million, from £0.91 million the previous the year. Growth was driven largely by strong performances from Distil’s RedLeg spiced rum and Blackwoods Vintage gin, after launching new packaging for the Blackwoods 2017 Vintage gin in the final quarter of the year.
Shares in Distil are currently trading up 13.64 percent at 2.50 (1107GMT).
