Tony Burt of East Imperial: H1 double digit revenue growth & significant strategic milestones achieved
Episode 904, Sep 20, 2022, 09:50 AM
Tony Burt, CEO of East Imperial #EISB talks about the double digit revenue growth and significant strategic milestones achieved in H1 along with recovery in the business post-covid meaning they expect to see the return to growth in the second half.
Tony Burt, CEO of East Imperial #EISB talks about the double digit revenue growth and significant strategic milestones achieved in H1 along with recovery in the business post-covid meaning they expect to see the return to growth in the second half.
Summary
● Revenues up 26.3% from £1.02m to £1.28m, reflecting the return of key on premise markets and normalised trading patterns in the US and Europe
● Strong improvement in net cash of £1.5m (H1 2021: £0.2m) due to the capital raise in January 2022. Q2 saw significant lowering of cash requirements compared to Q1 2022
● Margins recovering in Q2 2022 (YTD at 17.4%; June 2022 up to 22.3%) as margin improvement programme continues
● Key US market saw sales up 132% year on year as expansion in this priority market continues and cornerstone APAC market shows positive signs of post-Covid recovery
● The current operating loss represents our commitment to the investment in the business and the growth opportunities in global markets.
Strategic Highlights
● US distribution agreement with Republic National Distributing Company (RNDC) and national distribution partnership enjoying successful roll out with East Imperial now available in 12 states
● China distribution agreement with Wen Hua Hang Wine Spirits Company to supply East Imperial's entire range across the Chinese Mainland and Macau.
● In advanced talks to appoint a bottling partner in the fast-growing US market, offering significant cost savings as the brand expands
● Light Tonic introduced in Q2 satisfying ongoing demand in all territories for lower sugar options and offering an ultra-premium low calorie tonic water, without compromising on flavour
To read the full RNS click here
Summary
● Revenues up 26.3% from £1.02m to £1.28m, reflecting the return of key on premise markets and normalised trading patterns in the US and Europe
● Strong improvement in net cash of £1.5m (H1 2021: £0.2m) due to the capital raise in January 2022. Q2 saw significant lowering of cash requirements compared to Q1 2022
● Margins recovering in Q2 2022 (YTD at 17.4%; June 2022 up to 22.3%) as margin improvement programme continues
● Key US market saw sales up 132% year on year as expansion in this priority market continues and cornerstone APAC market shows positive signs of post-Covid recovery
● The current operating loss represents our commitment to the investment in the business and the growth opportunities in global markets.
Strategic Highlights
● US distribution agreement with Republic National Distributing Company (RNDC) and national distribution partnership enjoying successful roll out with East Imperial now available in 12 states
● China distribution agreement with Wen Hua Hang Wine Spirits Company to supply East Imperial's entire range across the Chinese Mainland and Macau.
● In advanced talks to appoint a bottling partner in the fast-growing US market, offering significant cost savings as the brand expands
● Light Tonic introduced in Q2 satisfying ongoing demand in all territories for lower sugar options and offering an ultra-premium low calorie tonic water, without compromising on flavour
To read the full RNS click here