Distell expects profit slump amid SA’s liquor prohibition
The group expects profits to fall as much as 80% in its year to end-June, although there could be a spike in demand if regulations ease before then
15 May 2020 - 11:23
Distell, the maker of Amarula, Klipdrift and Hunter’s Dry brands, expects a hefty fall in profits after SA liquor sales evaporated during the Covid-19 lockdown.
The group expects headline earnings per share (HEPS) to fall by between 60% and 80% in its year to end-June, and faces even more uncertainty regarding the easing of lockdown regulations in SA, and write downs of its stock. Headline earnings per share is a widely used profit measure in SA, stripping out exceptional items to give a better indication of underlying performance...
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