Gordon & MacPhail lifts exports despite headwinds
Speymalt Whisky Distributors, trading as Gordon & MacPhail, almost doubled its exports despite headwinds from Brexit and the pandemic.
The company saw a 9.8% uplift in turnover to £37.4 million in the year to the end of February and said sales in overseas markets rose to £24.4m from £13.8m, with demand remaining strong for premium, aged single malt whiskies.
Sales and volumes of the Benromach range grew by 15% and 14% respectively. Net assets grew by over 10% from £65.7m to £72.7m.
However, pre-tax profit fell from £13.9m to £10.4m as the sector faced a rise in costs and supply chain disruptions.
A £20m investment in its second distillery, The Cairn, in Grantown-on-Spey, adds further distillation capacity and brand ownership to the company’s asset base and forms a key part of plans to continue building a long-term sustainable business.
Managing director, Ewen Mackintosh, said the year “delivered a strong performance, particularly in international markets, which has seen a significant uplift in sales with our brands continuing to have strong appeal.”