JOHANNESBURG (Reuters) – South African wine and spirits maker Distell Group posted a 2 percent decline in first-half profit, as consumers battling job losses and high levels of debt rein in on spending.

Distell, whose brands include Nederburg wines and Klipdrift brandy, said headline earnings per share was at 310.1 cents in the six months to end-December.

The Cape Town-based company said revenue grew 9.3 percent to 6.6 billion rand in what it called an “extremely challenging trading environment” with consumers seeking lower-priced brands.