Publications
Partners
Johannesburg - South African drinks company Distell Group [JSE:DST] reported a 10% increase in full-year profit on Wednesday, boosted by strong sub-Saharan sales and a weaker rand currency.
Distell, whose brands include Amarula liqueur, Two Oceans wines and Savanna cider, said diluted headline earnings totaled 491.4 cents per share in the year to end-June, from 447.8 cents a year earlier.
Headline earnings per share (EPS), the main measure of profit in South Africa, excludes some one-time items.
Revenue rose by 12% to R15.9bn ($1.6bn).
While revenue in South Africa decreased by nearly 9%, Distell said revenue in international markets, including Africa, rose by 23%, helped in part by the weaker rand currency.
Sub-Saharan markets outside of South Africa contributed nearly 56% of foreign revenue, the company said.
South African companies are increasingly looking to fast-growing African markets to offset sluggish performance at home, where consumers are hamstrung by high debt levels and sluggish economic growth.
Shoprite Holdings, Africa's largest grocer, said on Wednesday it would ramp up its expansion across the continent with 47 new supermarkets, as its core South African consumer base continues to struggle.
Shares of Distell are up 16% this year, outperforming a 9% rise in Johannesburg's All Share [JSE:J203] index.
The shares were flat at R123.21 at 13:54. The All Share index was also flat.
Distell, whose brands include Amarula liqueur, Two Oceans wines and Savanna cider, said diluted headline earnings totaled 491.4 cents per share in the year to end-June, from 447.8 cents a year earlier.
Headline earnings per share (EPS), the main measure of profit in South Africa, excludes some one-time items.
Revenue rose by 12% to R15.9bn ($1.6bn).
While revenue in South Africa decreased by nearly 9%, Distell said revenue in international markets, including Africa, rose by 23%, helped in part by the weaker rand currency.
Sub-Saharan markets outside of South Africa contributed nearly 56% of foreign revenue, the company said.
South African companies are increasingly looking to fast-growing African markets to offset sluggish performance at home, where consumers are hamstrung by high debt levels and sluggish economic growth.
Shoprite Holdings, Africa's largest grocer, said on Wednesday it would ramp up its expansion across the continent with 47 new supermarkets, as its core South African consumer base continues to struggle.
Shares of Distell are up 16% this year, outperforming a 9% rise in Johannesburg's All Share [JSE:J203] index.
The shares were flat at R123.21 at 13:54. The All Share index was also flat.
