C&C remains optimistic

C&C in its interim management report said that it would still expect an operating profit of between £89.6m and £94.1m for the year to the end of March, in line with analysts’ consensus. The Edrington group, the company that includes The Macallan and Highland Park in its stable, has revealed that the benefits of soaring demand for Scotch in emerging markets were nearly wiped out by falling sales in Europe. Turnover for the year
to 31 March edged up by just 0.5% to £556.1m, compared with an 18% leap in the previous years accounts. Profits from the Macallan single malt grew by 40%, outstripping the market, while special editions of Highland Park helped the Orkney-based brand to grow its profitability. Edrington boss Ian Curle also revealed that the company plans to invest in whisky production in Scotland and rum output in the Dominican Republic to keep up with demand from emerging markets.

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