Distell recently released its financial results for the year ended 30 June 2020. Sales volumes were down by 22.5% to R554.6 million, and net cash generated from operating activities declined by 51.3%. Operating costs declined by 11.3% for the period. Distell reported an increase in gearing and lower cash generation due to the impact of Covid-19. Headline earnings per share declined by 64% to 235.3 cents, and the group’s total dividend was down by 58.9% to 174 cents for the year.
Distell’s Tanzanian and Nigerian businesses generated double-digit growth in terms of volume and revenue. During the year, the company reported a 71% increase in its footprint.
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