Spirits And Wine Distributor Edward Dillon & Co Records Decrease In Pre-Tax Profits For Year That Ended On September 30, 2020; Off-Trade Gin Sales Increased During Year That Ended On May 23, 2021
According to spirits and wine distributor Edward Dillon & Co's annual report for the year that ended on September 30, 2020, which has been lodged with the Companies Registration Office, the company's pre-tax profits decreased from just over €1 million to €976,000 during the 12 month period.
As reported by drinksindustryireland.ie, Edward Dillion & Co's pre-tax profits during the year that ended on September 30, 2018, amounted to €1.05 million.
The company's gross profit reportedly decreased by 13.8% to €5.4 million during the year that ended on September 30, 2020, while its turnover decreased by 7.5% to €55.3 million and its staff costs decreased by 8.7% from €3.2 million to just under €3 million for its 27 sales and distribution employees, down from 29, and 10 admin employees.
Off-Trade Gin Sales Increase
The above news coincides with news that off-trade sales of gin increased by 35% to €71.7 million during the year that ended on May 23, 2021.
As reported by drinksindustryireland.ie, according to drinks market analyst firm IWSR, global gin sales are forecast to increase by a compound annual growth rate (CAGR) of 4.5% between now and 2025, driven notably by Brazil, South Africa and Russia, but also driven by brands priced premium-and-above, with this segment being forecast to grow 11.4% CAGR 2021-2025.
The latest annual report from Drinks Ireland|Spirits reportedly states 338,500 cases of gin were sold in Ireland in 2019, indicating a sales increase of 4.6% on the 323,650 case figure that was recorded for 2018, which puts gin’s share of the spirits market at 14.4% in 2019, up slightly on its 2018 market share.
Some estimates reportedly have put the growth in gin sales in 2020 at close to 50%.
Figures from NielsenIQ reportedly indicate that off-trade gin sales increased by 35% to €71.7 million during the year that ended on May 23, 2021, and they were reportedly up 25% to €23.95 million this year alone to May 23, with the eight week period that ended on that date reportedly seeing gin sales increase by 2% to €10.4 million.
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