Edrington reports 3% profit and turnover growth

04 July, 2014

By Holly Motion

Edrington has announced group profits before tax was up 3% to £174.0m and turnover up 3% to £607.7m, for the year ended 31 March.

Edrington produce and distribute brands including The Macallan, Brugal, The Famous Grouse and Cutty Sark.

The company said its “route to market was transformed” during the year with the establishment of new sales, marketing and distribution companies in South East Asia and the Middle East.

Ian Curle, chief executive of Edrington, said: “The market for premium spirits worldwide continues to grow with more and more consumers gaining an appreciation for our brands.

“Last year we made significant investments in our route to market and now own the distribution capability in 11 countries which, together with our joint ventures, collectively represent 80% of Edrington’s total sales.”

In the same financial year, the company announced plans for a new Speyside distillery and visitor centre for The Macallan - a £100m project, scheduled to begin in autumn 2014 for completion in spring 2017.

The company has increased annual turnover, profit and dividend over the past five years by 45% and 84% respectively.

Curle added: “We remain optimistic about the company’s long term prospects despite continuing economic headwinds in some countries and political unrest in others.”