Macallan owner sees brand income hit £1 billion
Whisky distiller Edrington, whose brands include The Macallan and Famous Grouse, has posted a 43% rise in pre-tax profit and surged through £1 billion in core revenue for the first time.
The Glasgow-based group said its performance for the year showed “outstanding growth and investment” with income from spirit brands rising by 25% for the 22/23 full year. Profit came in at £387.7m.
Scott McCroskie, Chief Executive, said: “Our business has delivered another highly successful year, despite a range of external challenges.
“This strong trading performance has allowed us to invest industry-leading sums behind our brands, our people and our operations, as well as funding a substantial buyback of shares.
“The business delivered a strong performance in almost every country where our products are sold, with particularly strong sales in China, Hong Kong, Taiwan, the UK, Spain, the Dominican Republic and the USA.
“Whilst the economic landscape will continue to be challenging, the trading environment is improving. 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 this week launched a new corporate brand identity inspired by its people, values and heritage.
At the heart of the new identity is The Bond icon, a symbol that takes inspiration from its heritage branding and from the family crest of the company’s founders, the Robertson family.