UK: Morrison Bowmore Distillers sees FY profits jump
- Net profits jump 42% to GBP6.9m (US$10.7m)
- Sales rise 12% to 5.2m
- Pre-tax profits up 39% to GBP8.5m
- Borrowing up 50% to GBP37.7m
The company has benefited from investment in its single malt brands
Morrison Bowmore Distillers has reported a healthy rise in full-year profits after investment in its single malt brands.
Net profits in the 12 months to the end of last December jumped by 42% to GBP6.9m (US$10.7m), the Suntory Holdings-owned Scotch whisky producer reported today (8 August). Sales in the period rose by 12% to GBP5.2m, while pre-tax profits were up by 39% to GBP8.5m.
The company, whose brands include Bowmore and Auchentoshan, said its performance was due to its "strategy of focussing resources and investment" on its single malt brands.
Borrowing in the year rose by 50% to GBP37.7m as the group invested in long-term whisky stocks to "meet the growing demand" for its single malt brands.
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