Nederburg maker Distell lifts earnings, even as sales fall

Distell Group, which makes Nederburg wines and Klipdrift brandies, reported a double-digit increase in earnings for the six months to December, even as sales volumes fell in SA.

In SA, comparable revenues increased 7.8%, despite a 2.1% decline in sales volumes as declining disposable income weighed on peak-season trading, the company said. While most categories grew, brandy volumes declined as consumers “traded down to value offerings and to beer”.“Nigeria, Kenya, Zambia and Mozambique all recorded strong growth across all three categories as we continue to build our local production and route-to-market across the markets,” Distell said.

Meanwhile, Distell said it had secured “sufficient grape and wine supply” for the coming months, given that the 2019 harvest was not expected to be higher than the previous year.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Despite Nigerian run-ins, MTN’s earnings nearly doubled in 2018In 2018, the mobile operator was slapped with demands totalling $10.1bn from Nigerian regulators And yet MTNza cancelled FreeTwitter
Source: BDliveSA - 🏆 12. / 63 Read more »

Adrian Gore unfazed as new initiatives, life claims dent Discovery’s earningsThe financial services group experiences a spike in life insurance claims, and also invested in its bank and other new business initiatives
Source: BDliveSA - 🏆 12. / 63 Read more »

Sasol interim headline earnings rise 32%The company says oil price and foreign exchange movements outside its control may impact its results.
Source: TheCitizen_News - 🏆 6. / 75 Read more »

Cashbuild interim earnings down 11%The retailer says it will continue its store expansion, relocation, and refurbishment strategy in a controlled manner.
Source: TheCitizen_News - 🏆 6. / 75 Read more »

Mine firm Assore’s interim earnings jump 20% to R2.92bnSales volumes of iron ore and chrome ore were, however, lower than in the previous period.
Source: TheCitizen_News - 🏆 6. / 75 Read more »

Massmart 2018 earnings down nearly 32%This is against the backdrop of a difficult economic environment, characterised by low economic and wage growth.
Source: TheCitizen_News - 🏆 6. / 75 Read more »

JSE slips amid spate of disappointing earnings reportsGlobal markets were reacting to some disappointing news out of China on Thursday, while US officials have reminded the market that the US-China trade war is far from over Magda_Wierzycka you surprised?
Source: BDliveSA - 🏆 12. / 63 Read more »

Campbell Soup shares rise after beating earnings estimatesUS food producer’s net sales grow 24%, helped by acquisitions of Snyder’s-Lance and Pacific Foods
Source: BDliveSA - 🏆 12. / 63 Read more »