UK: Morrison Bowmore boosts stocks as FY sales, profits rise
- Full-year net profits rise 7% to GBP7m (US$11.7m)
- Group sales up 12% to GBP55.6m
- Operating profits climb by 7% to GBP10m
- Whisky stock value up 8% to GBP82.8m
Morrison Bowmore found profits and sales growth in 2013
Net profits in calender 2013 increased by 7% to GBP7m (US$11.7m), the company reported this week in documents logged with the UK's Companies House. Group sales grew by 12% to GBP55.6m in the same period, while operating profits climbed by 7% to GBP10m.
The company, whose brands include Bowmore and Auchentoshan, said it will continue with its strategy of increasing volumes and profitability by focussing on investing in its portfolio.
The accounts showed that Morrison Bowmore increased its whisky stocks in 2013, ramping up their value by 8% to to GBP82.8m.
Suntory this year added another Islay Scotch to its spirits portfolio, to sit alongside Bowmore, with the acquisition of Laphroaig-owner Beam Inc.
Ian Buxton has just returned from Cognac. Much as he expected to see a gloomy fug over the region, he was surprised by the upbeat air among its spirits producers....
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