Edrington see strong profit and revenue growth driven by The Macallan


Edrington has reported a strong financial performance for year ending March 2022 posting a 45% increase in core revenue, to £821m, and a 53% rise in core contribution to £296m marking a return to Edrington’s pre-pandemic trend of continued underlying growth. Their profit before tax increased from £171m to £271m.

Edrington’s leading brand, The Macallan, led the business performance and the accelerated development of direct-to-consumer sales was a significant driver of growth, particularly in Asia. The Macallan also delivered a number of new expressions including its oldest ever, The Macallan Reach.

Their Malt Whiskies business unit (comprising The Glenrothes, Highland Park and Naked Malt) performed well across key markets, growing the value of sales ahead of the increase in volume and favourite whisky The Famous Grouse performed well in its core markets in northern and eastern Europe, with strongest results in Sweden and the UK.

Brugal, Edrington’s premium rum, Brugal, continued to generate strong  growth in its home market of the Dominican Republic and good performance in Spain, its leading international market and its ultra-premium expression Brugal 1888 has doubled in size from pre-pandemic levels.

During the year Edrington also formed a strategic partnership with Berry Bros. & Rudd, taking a significant minority stake in No.3 London Dry Gin and invested almost £171m in brand development (an increase of 45%).

Commenting on the results, Scott McCroskie, Chief Executive, said,  “Edrington has returned to the consistent growth trend we saw in the years before the pandemic, with robust performances across our core markets, particularly the USA, China and the Dominican Republic.

“Whilst the economic landscape will continue to present challenges, we have healthy brands, an effective strategy, record levels of investment in the business, great people and strong momentum. I am confident that Edrington is well-positioned to deliver sustainable success in the future.”

Edrington also announced that it has committed to achieve Net Zero by 2045. The company is working with the Science Based Targets Initiative, the world’s first science-based corporate standard, to reduce its carbon emissions in line with a 1.5°C future.

McCroskie added: “Our target of achieving Net Zero by 2045 is a significant increase on our previous commitment and it will touch every aspect of our business. I am proud of the progress we have made, but also clear that we have much more to do.”

Edrington’s principal shareholder is The Robertson Trust, which has donated £322 million to charitable causes in Scotland since 1961. Our business is underpinned by the Edrington values of giving, respect, integrity and excellence.

Category: News, Spirits, Whisky
Tags: Edrington, Scott McCroskie, The Macallan