Tag: Richard Rushton
The alcohol industry has been through quite a roller coaster ride, since March this year. COVID-19 alcohol sales bans, led to job cuts, loss in taxes and a thriving black market. Releasing its full year results, South African-based global drinks company Distell reported a decrease of 64 per cent in earnings. Distell CEO, Richard Rushton CNBC Africa for more.
South Africa’s government has reinstated an alcohol ban in the country which saw alcoholic drinks maker Distell’s share price dropped by more than 6 per cent in Monday trading but has gained by 3 per cent in trade this morning. Joining CNBC Africa for more is Richard Rushton, CEO of Distell.
South Africans can look forward to popping their favourite bottle of bubbly or sipping on a glass of pinotage to warm up from the cold winter. That’s as alcohol sales, that were banned for over two months under the Covid-19 lock-down, will be lifted. Distell CEO Richard Rushton joins CNBC Africa for more.
Alcoholic drinks maker Distell reported that its full year headline earnings may drop between 60 and 80 per cent due to the Covid-19 impact on its business.
Alcoholic drinks maker Distell’s half-year profits fell by 4.8 per cent due to lower sales volumes. The company has sited that tough economic conditions is impacting consumer’s purchasing power with Headline earnings per share falling by 5 per cent to 548, 6 cents. Distell Group CEO, Richard Rushton joins CNBC Africa for more.
One of Africa's largest alcoholic drinks unit, Distell, says is likely to hold off on further investments in Zimbabwe until signs of currency relief. Distell posted a 1.8 per cent drop in full-year profit, headline earnings per share are down 1.7 per cent to 656.4 cents compared with 688.2 cents a year ago. Joining CNBC Africa for more is Richard Rushton, CEO, Distell.
Distell has managed to increase its headline earning per share by 12.1 per cent to 570 cents per share despite water restrictions and lower harvest production in South Africa. The maker of spirits and fine wines managed to reduce its debt to equity ratio from 32.5 per cent in 2017 to 19.3 per cent this year. Distell CEO, Richard Rushton joins CNBC Africa for more.
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