Revenues increased by 22% in the Distiller’s third quarter to end-December, 2020, supported by “up-weighted” marketing spending.
For the nine months of its financial year, cumulative sales revenues were up 70%, the AIM-listed company said, with domestic sales growing 60% and exports up 200%.
“Within these results we have seen sizeable shifts in both product mix and source of volume as a consequence of market and trade channel closures, together with changes in consumer behaviour and rituals,” said executive chairman Don Goulding in a statement.
Sales gains in grocery retail and online have largely offset significant declines across both hospitality and travel retail sectors, as reflected in its brand sales mix, with a 25% decline in sales of Blavod due to its volume being weighted towards Duty Free retail.
A new botanical vodka brand, TRØVE, is to be launched next month, “targeting emerging consumer trends towards lower alcohol by volume offerings to suit more balanced lifestyles”.