Savanna-owner Distell reports revenue growth, but cautions on inflation and load shedding | Business

But the JSE-listed liquor group, which reported half-year results to end-December 2022, struck a cautionary note about future prospects as it braced itself for a possible global recession while dealing with mounting costs and rampant load shedding at home.

Distell CEO Richard Rushton, who was due to retire in March, has had to extend his employment contract with the Heineken transaction still pending. Domestically, revenue rose 13.6% with volume growth up 9.7%, while in African markets, outside of South Africa, revenue increased by 21.5% on 6.8% higher sales volume. Revenue in international markets outside of Africa increased by 25.6% alongside volume growth of 39.2%, driven by the company's branded Scotch whisky portfolio and sales of bulk spirits. Dividend payments remain suspended because of the Heineken transaction.

The company also said the direct cost of load shedding in the reporting period came to R12.5 million and was expected to"nearly quadruple should the current stage of load shedding in South Africa continue".

مصر أحدث الأخبار, مصر عناوين

Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.

Steinhoff to pay R3.9 billion to settle lawsuit by Austrian ex-business partner | BusinessRetailer Steinhoff says it has reached a full and final settlement of €202.12 million (roughly R3.9 billion) with an Austrian company linked to a former business partner. | News24_Business _Business Business partners getting a payout before the SA public, must be nice. But people still on here complaining about the Guptas 👀
مصدر: News24 - 🏆 4. / 80 اقرأ أكثر »

Putin tells business elite: Don't beg for Western money, invest in Russia | BusinessPresident Vladimir Putin took a swipe at Russia's business elite on Tuesday, urging those 'begging' for money in the West to invest at home instead and telling them that ordinary Russians had no sympathy for their lost yachts and palaces | News24_Business _Business He's just so elite. He's speech got hacked today. Karma _Business Man with balls of steal _Business 💔I wonder were would RSA be today if we had Continued as a Country to be under BRICS Organisation Mhlampe ngabe sina maplazi namhlanje 😭😭😭
مصدر: News24 - 🏆 4. / 80 اقرأ أكثر »