Distell delivers solid results despite challenges
The Distell Group has declared a total dividend of 379 cents per share, after releasing its results for the full year ending 30 June 2017. Richard Rushton (pictured), Distell MD, said the company delivered solid operational results for the year against a backdrop of recessionary pressure on domestic consumers and a strengthening global competitive landscape.
Headline earnings decreased by 3.6 percent, to R1.6 billion, and HEPS decreased by 3.7 percent, to 708.3 cents. Group revenue increased by 3.7 percent, to R22.3 billion, while domestic market revenue increased by 7.8 percent and sales volumes increased by 1.5 percent. Net cash generated before financing activities increased by 70.9 percent, to R914.6m.
Distell has continued its drive into Africa, with the recent acquisition of 26.4 percent in KWA Holdings East Africa Limited (KHEAL), giving it a majority shareholding of 52.4 percent in the company - a spirits, wine and ready-to-drink manufacturer and distributor.