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Distil plc ( (GB:DIS) ) has issued an update.
Distil plc reported a significant decline in its financial performance for Q3 2024, with revenues and volumes dropping by 59% and 56% respectively, compared to the previous year. The company attributes this downturn to challenging market conditions in the UK spirits industry, including reduced stock purchases by major customers and increased competition from own-label products and discounts. In response, Distil is transferring its full UK distribution to its long-term partner, Global Brands, to leverage their larger sales force and logistics capabilities, aiming to strengthen brand growth. The company is also seeking growth opportunities in export markets amid a challenging macroeconomic environment.
More about Distil plc
Distil plc is a company operating in the spirits industry, owning premium drinks brands such as RedLeg Spiced Rum, Blackwoods Gin and Vodka, and Blavod Black Vodka. The company focuses on the production and distribution of these premium alcoholic beverages.
YTD Price Performance: -4.17%
Average Trading Volume: 7,056,672
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £1.53M
For an in-depth examination of DIS stock, go to TipRanks’ Stock Analysis page.