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.

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