Distil PLC - London-based owner of premium alcoholic drinks brands such as RedLeg Spiced Rum and Blackwoods Gin - Revenue decreases 55% to £204,000 in the four months to July 31 from £453,000 the previous year. Consequently, the board is exploring its options for necessary immediate short-term funding.
Executive Chair Don Goulding says: ‘The decline has been driven by an extraordinarily challenging economic environment, as consumers are faced with ongoing inflationary pressures which are putting a strain on spending. While this is an issue affecting all global markets, for 2024, this has been exacerbated in the UK by the poor weather, leading to further curbs on socialising both in and out of home.’
Current stock price: 0.23 pence, down 45%
12-month change: down 59%
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