The owner of Scottish gin and vodka brand Blackwoods has reported a jump in sales for the crucial festive trading period.
Distil, the Aim-listed company that also owns Blavod Black Vodka and RedLeg Spiced Rum, said revenues during the three months to December were 71 per cent higher than the same period a year earlier, while volumes increased by 31 per cent.
The group said the surge in revenues was supported by a near-doubling in brand marketing and came despite a slowdown in sales of Blavod Black Vodka in eastern Europe.
“The gin market remains buoyant with both Blackwoods Vintage and Blackwoods Limited Edition enjoying double-digit growth in both volumes and revenues,” Distil said. “In the US, our Blackwoods Small Batch Gin distributor is steadily increasing trial and building on-trade distribution.”
Distil executive chairman Don Goulding, a former managing director of Diageo UK, said: “Despite highly competitive market conditions over Christmas, our brands grew in volume and revenue. We continued to increase our brand marketing investment to build consumer awareness and trial in support of wider availability to the consumer.”
He added that the group remained confident for the fourth quarter of the financial year and expected full-year performance to be in line with the board’s expectations. “Our plan remains focused on shareholder value creation through the development and success of our brands and we intend to build on the momentum achieved last year.”