Distil PLC (LON:DIS) has reported a jump in its pre-tax operating profits for the full-year as increased marketing investment in its brands paid off.
The AIM-listed spirits maker reported a pre-tax operating profit of £157,000 for the year, up from £10,000 the year before while revenues climbed to £2.01mln from £1.64mln previously.
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In its outlook, the group said it was continuing to minimise the potential impact of Brexit on its sales figures, including shifting glass production to the UK and invoicing in sterling to reduce the impact of currency fluctuations.
Distil added that in the coming year it would continue to prioritise product development and build its brand portfolio.
The company also said it was currently in negotiations with potential distributors in the US to market its products in the country, while also opening new markets in Europe.
Don Goulding, executive chairman of Distil, said: "We are pleased to have delivered a strong set of results with significant growth in volumes, revenue and profits, supported by investment in our brands. Importantly we were able to grow sales, drive contribution margins, invest in marketing and improve operating cash flow during the year.”