UK: Whyte & Mackay's FY profits up 24%
- FY pre-tax profits up by 24% to GBP15.4m (US$25.1m)
- Net sales increase by 33.5% to GBP229.8m
- EBITDA margin down from 26% to 22%
Whyte & Mackay found growth in the year to the end of March
Whyte & Mackay has seen big jumps in full-year pre-tax profits and sales.
Pre-tax profits for the year to the end of March rose by 24% to GBP15.4m (US$25.1m), according to Companies House accounts, obtained by The Herald newspaper and confirmed to just-drinks by Whyte & Mackay today (19 December). Sales leapt by 33.5% year-on-year to GBP229.8m in the same period.
The United Spirits-owned company saw EBITDA margin fall from 26% last year to 22%, while costs increased by GBP2m because of property leasing expenses.
The performance is a marked impreovement on last year, when Whyte & Mackay reported a 51% drop in operating profits to GBP21.7m.
Speculation over Whyte & Mackay's future has mounted lately following Diageo's agreement last month to take a 53.4% stake in United Spirits. Analysts Nomura said a sell-off was likely with Gruppo Campari a possible buyer.
When contacted by just-drinks, Whyte & Mackay declined to comment on the results.
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