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.
- Focus - Diageo's FY Performance by Region
- Diageo " knew United Spirits would be complicated”
- It's not all bad for Diageo - Analysis
- Focus - Diageo's FY Performance by Brand
- Diageo upbeat on Scotch prospects
- Challenges remain as Diageo posts flat FY sales
- Bacardi creates Bacardi rum marketing role
- Britvic appoints SABMiller's Dunn as CFO
- Edrington appoints new board director
- Whyte & Mackay brings RumChata to UK
- Global gin insights - market data, product innovation and consumer trends research
- Global rum insights - market forecasts, product innovation and consumer trends research
- Global Tequila insights - market forecasts, product innovation and consumer trends research
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research
- Global liqueurs insights - market forecasts, product innovation and consumer trends research