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Edrington Group profits and turnover rise due to whisky boom

Published:  02 July, 2014

The Edrington Group, the Scottish maker of The Macallan, Famous Grouse, Cutty Sark, and Highland Park whiskies, saw profits rise by 3% and turnover hit £730.4 million for fiscal year 2014 which ended on March 31.

The company released its annual report this week and saw annual turnover rise 4.5% from £698.5 million to £730.4 million and pre-tax profits also saw an increase from £168.6 million to £174 million. Revenue rose by 3% to £607.7 million.

Ian Curle, chief executive at Edrington, said: "I am pleased to report that Edrington has delivered another strong year of growth. We have again increased our annual turnover, profit and dividend - over the past five years our turnover and profit have increased by 45% and 84% respectively, demonstrating the success of our international expansion."

The rise in demand for Scotch whisky has helped Edrington drive sales along with the launch of new sales and distribution companies in Singapore, Dubai and the USA. The company made investments in the US and emerging regions to improve its access to some of the world's largest spirit markets.

"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" said Curle.

Also the company committed over £100 million in investments to help support the growth of The Macallan estates, building the brand's global presence as well as a new Speyside distillery and visitors' centre.

Curle said: "We have committed over £100 million to transform The Macallan estate with a new distillery and visitor centre, consolidating The Macallan's position among the world's leading luxury spirits as well as delivering additional capacity to meet growing demand." 

In addition to owning several premium whiskies Edrington also owns Brugal rum and acquired Snow Leopard vodka in 2013.