Whisky weakens

Macallan distiller sees lowest growth since Covid

Edrington brought Cirque du Soleil to The Macallan in May

Whisky producer Edrington, whose brands include The Macallan and Famous Grouse, is expecting lower levels of growth than it has experienced since the end of the pandemic.

The company said it demonstrated robust growth despite a global reduction in consumer spending in the second half of the financial year ending 31 March.

Its focus on ultra-premium products continues to underpin the company’s performance. Pre-tax profit rose 6% to £411 million on an 11% rise in revenue to £1.165bn.

Chief executive Scott McCroskie, said Edrington had navigated a challenging year to deliver financial results that are among the best in the spirits industry with the focus on ultra-premium spirits continuing to deliver healthy brands and a strong underlying performance.

“However, we consider that the economic pressures that we saw in the second half of last year will adversely affect demand.

“While we will continue to invest in our brands, in our operations and in sustainability, the business is planning for the coming year on the basis of lower levels of growth than we have experienced since the end of the pandemic.”

During the year there was high demand for its top-end products including The Macallan’s collaboration with Bentley Motors to produce The Macallan Horizon and with Stella and Mary McCartney on the newest edition of The Macallan Harmony Collection.

Markets in Asia Pacific showed strong growth, with China performing particularly well. The Macallan Colour Collection has generated “outstanding” early results in Global Travel Retail.

The Macallan launched celebrations to mark its 200th anniversary, featuring a unique partnership with Cirque du Soleil and a range of new products, experiences and campaigns over the coming year.

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