Site icon Daily Business

Switch of focus hits Inver House profits

inver-house-distillers-managing-director-graham-stevensonInver House Distillers saw profits fall 19.5% as it switched its focus from bulk business to its premium spirits portfolio.

In a year of transition, the results also reflect a major reorganisation of distribution arrangements in the key US market.

The company is investing in building stocks, completing expansion of the Speyburn Distillery, brand marketing and promotion.

Core brands have continued to perform strongly, with all four single malts – Old Pulteney, Speyburn, anCnoc and Balblair – showing growth in their focus markets with the exception of the US and Russia.

The former has been impacted by the change in distribution arrangements and the latter by a weak currency and depressed economic conditions.

The company’s super-premium small batch gin, Caorunn, which is made at Balmenach Distillery also reports a strong performance having grown to become one of the top selling gins in the Scottish and UK off trade, with a sales value increase of 65% on last year.

Managing director Graham Stevenson said: “Although our reported profits have fallen, our actual results are slightly ahead of expectations.”

Highlights

Exit mobile version