Gordon & MacPhail boosts FY profits, sales ahead of handover
- FY profits before tax up 23% to GBP3.2m (US$5.1m)
- Net sales up 15% to GBP24.7m
- Benromach sales up 27%, volumes up 12%
- UK sales up 12.5% to GBP18m
The Benromach brand grew sales and volumes
Gordon & MacPhail has announced a full-year sales and profits jump ahead of the retirement of managing director Michael Urquhart.
Profits before tax climbed in the 12 months to the end of February by 23% to GBP3.2m (US$5.1m), the independent whisky distiller announced on Friday. Net sales were up 15% to GBP24.7m over the same period, while UK sales rose by 12.5% to GBP18m.
The Elgin-based company praised continued investment in its Benromach single malt whisky for the performance, with the brand upping sales by 27% and volumes by 12%.
Urquhart said: “We realised a long-held ambition to own a distillery when we rescued Benromach in 1993. It has proved to be a very sound business decision for us and we have slowly built the brand over time.”
The managing director is due to retire this week, handing over control of Gordon & MacPhail to current COO Ewen Mackintosh. Urquhart, a member of the third generation of the Urquhart family, which owns Gordon & MacPhail, has been MD since 2012.
“It gives me enormous pleasure to hand over the reins of the company to the fourth generation knowing it is in such a strong financial position,” Urquhart said.
Meanwhile, Gordon & MacPhail's exports jumped by 29%, finding strong growth in France, Germany and Holland, together with ongoing growth in the US, mainland China and Hong Kong.
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