StockMarketWire.com - Alcoholic drinks maker Distil annual profit rose as a increased marketing spend help boost sales.

For the year ended 31 March 2021, pre-tax profit attributable to shareholders rose to £243,000 from £182,000 year-on-year as turnover jumped 48% to £3.6 million.

RedLeg Spiced Rum and Blackwoods Gin were the key performance driver with both brands posting a 50% increase in revenue, ahead of the wider spirts market.

Blackwoods Vodka and Blavod Original Black Vodka experienced declines of 60% and 66% respectively, albeit off relatively small bases.

Gross margin fell to 56% from 59% as a result of 'COVID-19 related production charges and the ramp up in marketing,' the company said.

Looking ahead, with many export markets under varying degrees of lockdown and timelines for the resumption of international travel uncertain, the company said it is 'too early to forecast with accuracy or certainty for the coming year.'



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