JKSB’s first take on Distilleries FY2011 interim results

John Keells Stock Brokers (JKSB) has maintained that Distilleries Company is currently trading at a discount to the market multiple whilst the cash rich blue chip has the potential for further acquisitions. This view is contained in the JKSB’s earnings update on Distilleries which recently released interim results. Here are excerpts from JKSB review: