Trading Update

RNS Number : 4864L

East Imperial PLC

13 September 2021

 

13 September 2021

East Imperial plc

("East Imperial" or the "Company")

Trading Update

East Imperial, the global purveyor of ultra-premium beverages, is pleased to provide its first update on trading since becoming a business listed on the Main Market of the London Stock Exchange on 19 July 2021.

We have continued to see strong growth throughout this year with revenues up 60% during the first half compared with the comparable period last year. This has been driven by a combination of higher sales in venues which have been allowed to open up again with fewer or no COVID-19 restrictions, as well as additional supply agreements with new hotels, restaurants and retail chains.

This momentum has continued into the second half where there has been a strong return to demand in some key markets, namely New Zealand, Europe and the US. In Asia, there are pockets of demand returning although a number of COVID-19 restrictions remain in key territories and in travel hubs such as Singapore. New Zealand remains robust in multiple channels as it enters the warmer months.

This continuing growth in sales volumes is enabling the Company to improve efficiencies within the business. We are exploring several manufacturing and distribution options which would support the scaling up of the business.

Since the listing in July, we have made significant progress with our stated growth strategy. In particular, we secured a number of further supply agreements with well-known retail brands including Woolworths, Foodstuffs and Dan Murphy's, adding over 600 outlets across Australia and New Zealand.

Looking ahead to the remainder of this year, we expect key markets to continue to recover and grow as they open up again, particularly on-trade which has been most significantly impacted throughout the pandemic. We should also benefit from the current seasonality in the business which has traditionally led to significantly higher sales in the final quarter of the year (summer in the Southern Hemisphere). We expect online and direct to consumer channels to grow and begin to make up a more meaningful source of revenues over the remainder of this year.

Tony Burt, CEO of East Imperial, said:

"I'm delighted with the progress that we've been making and the momentum we're seeing in the business. As we enter into the most important trading period in the year, it's encouraging to see so many more venues opening up again and an increasing number of partnership opportunities.

"We're making great progress against our goals. In addition to being awarded some significant shelf placements, we've also focussed on our direct-to-consumer offer as well as some exciting new product developments including our recently launched can format.

"This progress gives me confidence that we'll deliver significant sales growth in 2021 and in the years ahead."

- Ends -

Enquiries:

MHP Communications

Peter Hewer  [phone]

Rachel Mann  [phone]

[e-mail] 

 

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