By Iain Gilbert
Date: Wednesday 08 Jul 2020
LONDON (ShareCast) - (Sharecast News) - Drinksmaker Distil will more than double its marketing spend over the next few months ahead of an anticipated surge in revenues.
Distil, which saw revenues improve 21% in the first quarter of 2020, will increase its marketing investment by 100-120% in the six months ending September on the back of an expected 75-85% jump in revenues and an operating profit of somewhere between £50m and £70m.
First-quarter volumes were flat year-on-year, however, this was offset by an increase in domestic retail sales both in-store and online.
While the AIM-listed group said it was "currently unable to provide full-year guidance" due to uncertainties surrounding the Covid-19 pandemic, it highlighted that it had seen a "significant increase in demand" for its products at the consumer level during lockdown.
However, Distill added: "Naturally, we remain cautious due to the risk of further lockdowns and all associated disruption."
As of 0925 BST, Distil shares were up 17.27% at 1.29p.
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Currency | UK Pounds |
Share Price | 0.45p |
Change Today | -0.100p |
% Change | -18.18 % |
52 Week High | 0.75 |
52 Week Low | 0.38 |
Volume | 2,339,654 |
Shares Issued | 905.11m |
Market Cap | £4.07m |
Value |
---|
Price Trend |
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Income |
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Growth |
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No dividends found |
Time | Volume / Share Price |
16:24 | 21,367 @ 0.42p |
15:31 | 11,573 @ 0.41p |
13:48 | 250,000 @ 0.48p |
12:37 | 10,379 @ 0.49p |
12:32 | 100,000 @ 0.49p |
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