Distell Group, South Africa’s leading cider, spirits and wine producer reported revenue growth of 10.4% for the full-year ending in June 2018. Revenue grew to R24.2bn rand ($1.9bn) on a 4.6% volume lift.
The company reported a strong growth of 10.1% in South Africa, its home market on 4.4% higher volumes amid low GDP growth and higher cost of living putting increased pressure on consumer disposable income.
Distell derives 74% of its revenue in South Africa.
Aare Fatai Odesile, the CEO of Grand Oak Limited is to step down from his post effective end of September.
His resignation comes after 27 years of meritorious service at the Nigerian Distilleries Limited (NDL) and Grand Oak Limited (GOL), two indigenous spirits firms owned by the Lexcel Group of Companies.
Odesile started his career with the Lexcel Group as a Quality Control/Production Officer with NDL in 1992 and rose through the ranks to the position of Managing Director/CEO of Grand Oak Limited, the marketing arm of Nigerian Distilleries Limited in 2016.
