Isle of Arran Distillers hits new highs in 2014 results
- Full-year net profits jump by 51.3% to GBP831,362 (US$1.3m)
- Sales in 12 months to end of December rise by 21% to £5.5m
- Operating profits increase by 43.1% to £977,164
Isle of Arran Distillers released its 2014 results late last week
Isle of Arran Distillers has reported a second consecutive near-50% leap in annual net profits.
The privately-held company, which owns The Arran Malt portfolio, said late last week that profits in the 12 months of 2014 leapt by 51.3% on a 21% rise in sales. The performance, hailed by the firm as its best since it started in 1995, follows a 58% profits surge in 2013.
Volumes last year were up by 23%, with a "strong offering of carefully chosen ... limited edition expressions of The Arran Malt" being credited with driving the growth.
Isle of Arran Distillers highlighted the broader performance of the Scotch category, which was down by 7% in value terms in 2014 and down by 3% in volumes. "In a challenging period for Scotch whisky our continued growth is testament to a ... clear strategy well executed," said MD Euan Mitchell. "Some people believe when the big companies in the industry sneeze we all catch a cold but this is not our experience. Interest in smaller, independent brands such as ours is surging and we are not even scratching the surface in global terms."
The firm also said it plans to up capacity at its distillery on Arran to "beyond 1m litres of pure alcohol" by the end of next year.
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