UK: Malt whisky boosts Morrison Bowmore Distillers FY profits
The Glasgow-based distiller posted pre-tax profits of GBP3.6m (US$5.9m) for the 12 months of 2008, an increase on GBP3.2m recorded in 2007, according to a document filed with Companies House in the UK this week.
Despite this, sales turnover slipped to GBP37.1m during the year, compared with GBP39.7m in the previous year.
The company said the figure reflected "reduced activity in the bulk whisky market", which it said is in line with its strategy of "moving away from low-margin and blended business".
The group, however, said it was continuing to concentrate on building its single malt brands and that it had increased investment in both Bowmore and Auchentoshen.
"The investment behind growing single malt brands extends to the need to lay down additional stock for sales in 12 years time," the company said.
Morrison Bowmore said the Drambuie deal will double the size of its bottling output.
A minimum price on alcoholic drinks in Scotland could cost the Scotch whisky industry up to GBP600m (US$937m), with authorities in key export markets likely to follow Scotland's lead, the Scotch Whisk...
Lower demand for Champagne weighed heavily on French luxury goods group Moët Hennessy Louis Vuitton (LVMH) in 2009, despite signs of a recovery in the fourth quarter....
- Focus - Edrington's FY Performance by Brand
- Pernod relies on Indian whiskey to crack Africa
- Where Beer is Brewed Can Leave a Bad Taste
- Analysis - Storm clouds lift over Diageo Towers
- Hail Marie Brizard: But, For How Long?
- Comment - Diageo CFO to North America? Do the Math
- Diageo CFO Mahlan to head up N America
- Diageo sells "non-core" Gleneagles
- Former Bacardi exec takes De Kuyper CEO role
- Diageo lining up Gleneagles sale - report
- Global liqueurs insights - market forecasts, product innovation and consumer trends research
- The IWSR Company Profile 2014 – Remy Cointreau
- Edrington Group in Spirits (World)
- Diageo plc (DGE) - Financial and Strategic SWOT Analysis Review
- Global Tequila insights - market forecasts, product innovation and consumer trends research