Subscriber login Close [x]
remember me
You are not logged in.

Edrington receives boost from five-year plan as profits rise 32%

Published:  29 June, 2017

Scotch brand owner Edrington has reported seeing results from its five-year strategy plan after yearly profits soared 32% to reach £91m. 

For the year to March 31, 2017 total revenues were also up 6%, totalling £668.1m. 

The company’s results were released today, three years into a five-year plan created around some its flagship brands.

The plan encompasses some its key brands, outlining plans to “perfect the Macallan” and “accelerate Highland Park” whiskies.

Growing revenues were also down to increased investment plumbed into its portfolio, the company said.

Over the past year, £110.7m (+18%) was directly invested in marketing, innovation, and a “greater focus on consumers”.

Company chief executive, Ian Curle, said: “2016-17 was a significant year of growth for Edrington despite a difficult backdrop of economic and political volatility, and a fiercely competitive marketplace.”

“Despite short term uncertainty we are confident about the medium and long term prospects for the business. With its premium brand portfolio, proven strategy, and management capability, Edrington has established the necessary momentum to deliver further growth,” he added.

The company is headquartered in Sctoland, where it also counts The Famous Grouse, Cutty Sark, The Glenrothes, Brugal rum and Snow Leopard vodka among its brands.

The Macallan had a “strong” year, which included the of buyout of World Equity Brand Builders’s (WEBB) stake in Edrington’s joint travel retail venture, Edrington WEBB Travel Retail Americas (EWTRA).

The WEBB buyout enabled Edrington to establish one global travel retail unit following previous moves to take regional travel retail distribution in-house.

Highland Park meanwhile saw growth in line with Edrington’s overall performance.

The Famous Grouse, one of the company’s “regional power brands” delivered its highest ever market share, according to Nielsen.

Edrington’s premium portfolio was strengthened by the return of The Glenrothes Single Malt, the company said, with more plans to develop this section of the portfolio in the future.