East Imperial PLC (LSE:EISB) shares fizzed 7% higher to 3.15p after it appointed a distributor for its entire range of mixers and drinks in Vietnam.
The agreement with SUTL Group for a country that saw 18mln international visitors in 2019, tops up its network in Asia after deals in the region were signed to cover China, Singapore and Hong Kong.
The New Zealand-based and London-listed company said Asia Pacific “continues to be the cornerstone” of its revenues in short to medium term, which it attributes to accelerating spirits adoption in the region, driven by both cultural trends and an increasing middle class.
“With the APAC market continuing to ease Covid restrictions, East Imperial expects to see accelerated momentum in this key market.”