Edrington has announced another strong year of growth with an increase in turnover and profit. Its financial results for the year ending 31st March 2014 show that the spirit brand producer and distributer has increased its turnover by 3% to £607.7m, and group profit before tax by 3% to £174m.
The company, which owns brands including Famous Grouse, Cutty Sark and The Macallan, increased its presence in both established and emerging markets and made significant investment in its brands and its route to market. During the year plans were also announced for a £100m investment to The Macallan estate, with a new Speyside distillery and visitor centre expected to be completed by 2017.
Commenting on the results, Ian Curle, Chief Executive of 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 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.
“Our strategy of investing in quality and long term growth will continue this year. We have committed over £100m 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.”