Get the app today! Download iPhone App Download Android App

SUBSCRIBE

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

Published on Aug 5 2021 8:36 AM in Drinks tagged: Trending Posts / Edward Dillon / IWSR / IWSR Drinks Market Analysis / Drinks Ireland|Spirits / Edward Dillon & Co. / NielsonIQ

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.

© 2021 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.

Share on Facebook Share on Twitter Share on LinkedIn Share via Email