Distell awash in cash after rest-of-Africa sales lift spirits

By AfricaPost March 6, 2021129 views

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28 February 2021 – 05:00 NICK WILSON

Distell’s strong cash position and low gearing have placed Africa’s biggest wine, cider and spirits producer in the enviable position of being able to keep its powder dry for any future investments – and ride out any market volatility.

The JSE-listed owner of brands such as Nederburg wines, Savanna cider, Klipdrift brandy and Amarula liqueur said on Thursday that net cash generated from operating activities tripled to R3.3bn in the six months ended December 31, compared with R1.1bn in the same period the previous year. Net debt at the end of the reporting period was R2.7bn, down from R4.7bn in the corresponding period in 2019…