UK: Burn Stewart Distillers FY profits boosted by "niche" markets
- FY sales up by 31% to GBP57.4m (US$91.9m)
- Operating profits leap by 50% to GBP6.9m
- Gross profit up by 26.8% to GBP23.2m
- More investment in capital projects planned over next three years
The company announced a rise in profits for 2011
Burn Stewart Distillers has announced a healthy rise in full-year profits for 2011, helped by strong growth in international markets, including Taiwan and Sub-Saharan Africa.
Operating profits in the 12 months to the end of December leapt by 50% to GBP6.9m (US$11m), the East Kilbride-based Scotch whisky producer and brand owner said today (10 September). Sales in the period were up by 31% to GBP57.4m (US$91.9m).
The company saw the sales of its core brands rise 13% by volume last year, with value rising by 27%. Its flagship Scottish Leader brand drove the performance of its blends stable, while Bunnahabhain led the way for single malt growth.
In international markets, Scottish Leader recently became the market leader in Taiwan in the “standard blended Scotch’’ category, the company said. Sales were also strong in Sub-Saharan Africa, the UK, the US, France, the Baltics and parts of Eastern Europe, it said.
“I am pleased that our results clearly demonstrate our ability to deliver our long-term strategy combining capital expenditure on value adding projects and relationship building in niche markets," said MD Fraser Thornton.
The company has invested GBP2m in capital investement in the last three years and said it plans to continue with this type of investment for the next three years.
A GBP500,000 investment in a new bottling line is currently underway at East Kilbride, the company added, to boost the delivery of its single malt brand strategy.
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