UK: Sales, profits stay strong in Edrington Group H1

By James Wilmore | 15 November 2012

Net profits in H1 climb by 19.7% to GBP38.3m (US$60.8m)
Sales in six months to end of September rise by 6.2% to GBP295.9m
Operating profits up by 19.8% to GBP63.6m

The Edrington Group released its H1 numbers earlier this week

The Edrington Group has hailed the performance of its single malt Scotch whisky portfolio for driving its half-year numbers.

Net profits in the first six months to the end of September rose by 19.7% to GBP38.3m (60.8m) the Glasgow-based premium spirits group said earlier this week. Sales in the period climbed by 6.2% GBP295.5m.

Operating profits in the first-half were up by 19.8% to GBP3.6m, the group said.

The company pointed to "stong growth in the US, Asia and emerging markets", which offset "weakness" in southern Europe.

In particular, it saw a "strong performance" from its premium single malt brands in the US and its blended brands in Asia, where "improvements" in its distribution network in the region drove growth.

"Demand for our single malt brands, led by The Macallan, remains very strong – particularly in the US," said Ian Curle, Edrington's CEO.

He added: "Growth in our other brands has been driven through effective marketing, brand innovation and a dynamic approach to new and developing markets."

However, looking ahead to the full-year, he warned: "We expect the beneficial impact of the first half phasing to unwind in the second half of the financial year.”

Expert analysis

Edrington Group in Spirits (World)

Facing challenging conditions in core markets, Edrington is under growing pressure to diversify its operations in terms of both product offer and geographic reach. This profile analyses the strongest opportunities for developing the company’s existing offer in both established and new markets, and considers the most attractive options for extending its reach into new categories.

Sectors: Company results, Spirits

Companies: Edrington, The Macallan

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