UK: Morrison Bowmore Distillers sees FY sales rise
- Full-year net profits slip by 12% to GBP2.1m (US$3.4m)
- Net sales rise by 5.5% to GBP41.5m
- Operating profits fall by 13% to GBP4m
- Strong demand for single malt whisky drives sales
Morrison Bowmore Distillers reports sales rise for 2010
Morrison Bowmore Distillers has reported a solid rise in full-year Scotch whisky sales, but profits in the period have taken a hit from higher costs.
Suntory-owned Morrison Bowmore saw net sales rise by 5.5% in the 12 months to the end of December 2010, to GBP41.5m (US$67.5m), the distiller said in a filing published by Companies House this week.
Sales were driven by strong consumer demand for single malt whiskies, with Bowmore, Auchentoshan, Glen Garioch and McClellands all showing growth, Bowmore said.
However, higher costs, including one-off charges for roof repairs at the firm's 40-year-old Springburn site, caused operating profits to fall by 13% versus 2009, to GBP4m. Net profits dropped by 12% to GBP2.1m.
A spokesperson for Morrison Bowmore was unavailable for comment on current trading when contacted by just-drinks today (10 August).
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