Inver House Distillers – marks milestone with profits rise
Inver House Distillers, the Scotch whisky subsidiary of global drinks business International Beverage Holdings, has marked its 50th anniversary with a robust performance amid increasingly difficult market conditions.
The Airdrie based firm, whose brands include the single malt Old Pulteney, saw pre-tax profits in the year to December 2014 rise 23.5% to £11.8 million on a 2.8% rise in turnover to £79.2m.
The group invested £10.2m in the business against £4.7m in the previous 12 months. There was a major expansion programme at Speyburn Distillery, an upgrade of Balmenach Distillery and the construction of warehouses at the Airdrie headquarters.
With trading conditions challenging in Russia, China and other emerging markets, the business successfully focused investment to deliver strong growth in the UK, US, Germany, Poland and certain African countries.
Managing director Graham Stevenson said: “2014 was a significant year for our business, with our 50th anniversary giving us the chance to reflect on the company’s development over the years and also to toast our success to date.
“As our results demonstrate, we have reason to celebrate, given the ongoing strength of our award-winning brands in markets around the world, led by the tremendous skill and commitment of our distillery and operational teams across the business.
“The year has also strengthened our determination to build our brands for the future, with strategic investments being made to meet the numerous and diverse challenges and uncertainties that the industry undoubtedly faces globally. There are challenging times to come but we remain confident about our strategy and the opportunities for our brands and our industry.”