UK: Isle of Arran Distillers sees exports drive record FY profits, sales
- FY net profits up 58% to GBP549,639 (US$934,183)
- Net sales up 25% to GBP4.6m
- Operating profits up 58% to GBP682,632
The results build on a record performance last year
Isle of Arran Distillers has posted another record year of profits as export growth in 2013 outpaced the whisky industry.
The Arran Malt owner said today (25 June) that net profits in calender 2013 were up 58% to GBP549,639 (US$934,183). Net sales climbed 25% to GBP4.6m in the same period while operating profits rose by 58% to GBP682,632.
The distiller said exports were behind the impressive results, with sales abroad jumping by 26% compared to a 5% average rise for the overall Scotch market. France remained the company's top market, however the US is now its largest market for the Arran Single Malt brand.
The performance builds on previous record results for 2012, announced last July, that saw profits up 39% and sales increase by 18%.
“It is really pleasing to see that our approach and hard work is delivering results,” Isle of Arran MD Euan Mitchell said today. “We are something of an overnight success, nearly 20 years in the making.”
The company said it is looking to future growth with new facilities. A warehouse is due to open at the end of this year, with capacity to store 12,000 extra casks, while plans are also in place for two more pot stills by 2016 that will double the distillery’s production capacity.
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