UK: Inver House Distillers sees marketing spend boost FY
Inver House Distillers has reported a healthy set of results for its latest fiscal year.
The Scotch whisky producer, which is owned by Thai Beverage, said late last week that operating profit for the year to the end of March almost doubled, rising to GBP4.6m (US$9.0m) from GBP2.6m a year earlier. Sales for the year were up by 52% on fiscal 2006/2007, coming in at GBP57.8m, with net profit leaping to GBP2.9m from GBP1.5m.
Inver House, whose single malt whisky portfolio includes Old Pulteney, Balblair, Speyburn and anCnoc, credited a "significant marketing investment" for assisting the increases. Marketing investment in the single malt portfolio has been increased by 15%, with investment behind the malt portfolio now amounting to just under 30% of the revenue from single malt sales. This investment, which led to the company posting a significant increase in the cost of sales to GBP42.9m for the year from GBP27.4m a year earlier, led to Inver House's single malt portfolio growing by 24% over the previous year.
"This success has been driven in part by our ongoing expansion into growing international markets, as well as continued brand extensions and the marketing support that we have put behind our key malt whisky products," said company managing director, Graham Stevenson. "Investing in our core portfolio is continuing to pay dividends, with value share continuing to grow ahead of volume as we keep focusing on building our brands."
Looking forward, the company said it expects this growth to continue into 2008, driven by "ambitious plans to further develop our overseas markets, both in Europe and worldwide, and tap into the increasing demand for quality whisky brands that have a strong Scottish heritage", Stevenson added.
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