Distell’s 29% jump in net profit for the year to end-June demonstrated once again that when times get tough, the tough get laagered. The diversified liquor group listed one of its ciders, Savanna, and a sparkling wine range, Bernini, as standout products during its 2018 financial year. Led by these two brands, Distell managed "in the face of increased competition" to grow market share in the period, its results statement said. Revenue grew by 10.4% to R24bn and net profit by 28.6% to R1.7bn. Distell declared a final dividend of R2.30, taking its total dividend for its 2018 financial year to R3.95, a 4.2% increase on the prior year’s R3.79. The group said its South African sales grew 10.1% in sales and 4.4% by volume, "amidst increased costs of living placing pressure on consumer disposable incomes". "The spirits category showed continued growth, with brandy volumes still resilient and whisky recovering in the second half," Distell said. The group’s brandies include Klipdrift and Ric...
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