UK: Edrington FY on the rise
The Edrington Group has posted its full year figures. The owner of The Famous Grouse, Cutty Sark and The Macallan whiskies said today (4 July) that both turnover and operating profit rose in the 12 months to 31 March 2005.
While sales for the group recorded an increase of 12.9% year-on-year to GBP254m, operating profits were also up, by 3.2% to GBP67.2m. Including exceptional items from 2003/04 - including the divestment of two distilleries and associated brands, and the sale of property - profit before tax dipped by 15.5% to GBP61.2m for the year. Taking these exceptional items out of the equation sees profit before tax rise by 3.7% to GBP61.9m, however.
In a statement, Ian Curle, Edrington chief executive, said: "In pursuing our corporate objective to become Scotland's leading international premium spirits company, I clearly outlined our strategy and priorities in last year's review. One year on, I am pleased to report that substantial progress has been achieved and the financial performance of the company is strong.
"Our brands' successes have been built on our strategic objective to premiumise and innovate our Scotch whisky portfolio whilst seeking new market opportunities with exciting growth potential."
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