Scotland business

Sales and profits up for Famous Grouse maker Edrington

Ian Curle Image copyright Stuart Wallace
Image caption Chief executive Ian Curle says the market for premium spirits worldwide continues to grow

Famous Grouse producer Edrington Group has announced a strong set of results, after increasing its presence in both established and emerging markets and investing in its brands.

The Glasgow-based company said revenues rose by 3% to nearly £608m in the year to the end of March.

Pre-tax profits for the group also increased by 3%.

Edrington's brands include The Macallan, Highland Park, Cutty Sark, Snow Leopard vodka and Brugal rum.

During the year, Edrington established new sales, marketing and distribution companies in Singapore and the Middle East.

It has since launched Edrington Americas, which means the company now owns the route to market for its leading brands in the world's largest premium spirits market.

The group said its Macallan brand grew last year across "a broad range of territories" , while Famous Grouse performed strongly in the UK and Sweden and showed "continued progress" in emerging markets.

Image copyright Edrington Group
Image caption Edrington plans to open a new Speyside distillery and visitor centre in 2017

Edrington chief executive Ian Curle 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."

The group said its strategy of investing in quality and long-term growth would continue this year.

It is committing more than £100m to a new Speyside distillery and visitor centre for the Macallan brand.

Work is scheduled to begin in the autumn of this year and is due for completion in spring 2017.

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