The Scotch whisky company Edrington has seen its full year turnover jump 14.9% to £230.7m, compared to £200.8m last year as profit before tax increased by 24.6% to £61.7m. But it warned that the difficult trading environment means it would be tough to make confident predictions going forward.
The company said that in a “challenging trading environment”, each of its four key brands of The Famous Grouse, Cutty Sark, The Macallan and Highland Park grew market share in their main markets
Edrington said its brands had responded well to record resources placed behind them to help increase market share and target new and emerging markets. The brands responded particularly well in export markets, it said.
However it also warned that in some instances considerable investment would be needed “well before we see any significant return, but it is essential that our brands have the opportunity to develop in markets where Scotch whisky could become a significant category.”
Commenting on the results, Ian Good, chairman and chief executive, said: “The Edrington Group has made excellent progress with both profit before tax and earnings attributable to shareholders at record levels. Our key brands have enjoyed particularly strong growth in export markets.
“The board has increased the resource required to develop new markets for our brands. In many instances this will mean substantial investment well before we see any significant return, but it is essential that our brands have the opportunity to develop in markets where Scotch Whisky could become
a significant category.
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“The trading environment across the world is uncertain at present and the competition is strong; in such circumstances it is difficult to make confident predictions of future prospects.”
