UK: Inver House Distillers toasts Scotch whisky demand
- Full-year net profits drop by 3.5% to GBP6.8m (US$11m)
- Operating profits rise by 1% to GBP9.86m
- Net sales jump by 19% to GBP63m
- ThaiBev subsidiary boosted by high Scotch demand
Inver House Distillers saw strong demand for Scotch whisky in 2010
Inver House Distillers has said that Scotch whisky sales were ahead of its expectations in its last full-year.
Old Pulteney Single Malt led the line for Inver House in the year, it said this week. For the 12 months to the end of December 2010, the brand reported sales up by 22% and 34% and volume and value respectively.
During the year, the ThaiBev subsidiary made significant gains in the US, Russia and travel retail, it said. Inver House MD Graham Stevenson said that sales on Scotch and on Caorunn gin beat the group's expectations.
That said, profits came under pressure over the year. Operating profits crept up by 1% to GBP9.86m, but net profits fell by 3.5% to GBP6.8m. "At the pre-tax level our result is flat, reflecting our increased investment in the marketing and distribution of our brands in key international markets," said Stevenson. "We remain confident that this will prove highly beneficial in the long term.”
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