IN BRIEF: East Imperial hails interim revenue rise on increased sales

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East Imperial PLC - New Zealand-based tonic waters and mixers producer - Says 2022 revenue is £3.1 million, up 16% from £2.8 million a year earlier, in line with expectations. This is driven by increased sales across all markets. Says sales in its Asia-Pacific market were in line with expectations due to Covid lockdowns in the first half of the year, but has seen a strong return to growth in the second half. Looking ahead, says it is focused on margin improvement opportunities in the medium-term, along with initiatives underway to ‘significantly reduce manufacturing costs’.

Chief Executive Officer Tony Burt says: ‘The double-digit revenue growth we experienced over the year is testament to excellent customer demand for our product in key markets as well as the strong operational foundations we have put in place. 2022 was a transformational year for our US business, with the expansion of our distribution network and the appointment of a bottling partner, and I am very excited about the potential for growth in the coming years.’

Back in September last year, East Imperial said revenue in six months to June 30 rose 26% year-on-year to £1.3 million from £1.0 million. Pretax loss, however, widened to £1.5 million from £507,000.

Current stock price: 2.58 pence each, up 2.8% on Tuesday afternoon in London

12-month change: down 75%

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