DISTIL (DIS) H1 2026 earnings summary

Executive summary

• Achieved successful transition to new UK distributor, securing over 200 new distribution points and relaunching Blavod Black Vodka in the US market.

• Q2 revenues rebounded 269% over Q1, driven by re-orders, and remained flat year-on-year, outperforming the overall spirits market.

• Operational focus on cost management, supply chain resilience, and efficiency amid inflationary pressures.

Financial highlights

• Six-month revenue decreased 20% year-over-year to £313k; gross profit down 15% to £135k.

• Q2 revenue flat at £246k; gross profit up 18% to £123k; gross margin rose to 50% from 42%.

• Loss before tax reduced to £510k from £555k year-over-year.

• Administrative costs fell 6% to £506k; staff costs down 12% to £265k.

• Basic and diluted loss per share improved to (0.06)p from (0.08)p.

Outlook and guidance

• H2 focus on promotional support during Christmas and opening of Blackwoods Brand Home.

• Expected US shipments of Blavod delayed due to regulatory issues; mitigation efforts ongoing.

• Cautious optimism as consumer confidence shows early signs of recovery.