Famous Grouse distiller back to pre-Covid growth
Whisky company Edrington, owner of the Macallan and Famous Grouse, has shown a return to pre-pandemic growth.
The Glasgow-based company posted a 22% increase in revenue to £821.2 million for the year to the end of March compared to the pre-pandemic year 2019/20. Income rose by 45% on 2020/21 when bars and hotels were still under Covid restrictions.
Over the same two-year comparative period, profit before tax rose to £270.7m from £222.4m.
Scott McCroskie, chief executive, said: “Edrington has returned to the consistent growth trend we saw in the years before the pandemic, with robust performances across our core markets, particularly the USA, China and the Dominican Republic.
“Whilst the economic landscape will continue to present challenges, we have healthy brands, an effective strategy, record levels of investment in the business, great people and strong momentum. I am confident that Edrington is well-positioned to deliver sustainable success in the future.”
Edrington has also announced today that it has committed to achieve net zero by 2045. The company is working with the Science Based Targets Initiative, the world’s first science-based corporate standard, to reduce its carbon emissions in line with a 1.5°C future.
Mr McCroskie added: “Our target of achieving net zero by 2045 is a significant increase on our previous commitment and it will touch every aspect of our business. I am proud of the progress we have made, but also clear that we have much more to do.”