India's UB Group has denied reducing earnings estimates for its Scotch whisky subsidiary Whyte & Mackay.

A spokesperson for UB Group's United Spirits division told just-drinks today that the company has not reduced operating profits estimates for Whyte & Mackay.

Yesterday, business news channel CNBC reported that the loss of bulk supply contract to Diageo had forced United Spirits to reduce Whyte & Mackay's current year operating profits guidance to US35m (US$51.5m), from GBP55m previously.

Whyte & Mackay's operating profits for the 12 months to the end of March 2009 were GBP45.6m, compared to GBP49.4m for the previous 18 months, according to figures released earlier this year.