A focus on “ultra premium” products and growth in Asia and the Pacific has helped sales at Edrington edge up by 11% in the year to 31 March 2024.
‘Core revenues’ at Edrington grew by 11% to £1.16bn, while profit before tax increased 6%, to £441m.
The spirits group said it had demonstrated “robust growth despite a global reduction in consumer spending” in the second half of its financial year.
Scotch whisky brand The Macallan continued “to lead the company’s performance”, the Glasgow-headquartered Edrington said.
It added there had been strong demand for limited-edition collaborations with Bentley Motors and Stella and Mary McCartney.
Markets in Asia and the Pacific had “showed strong growth, with China performing particularly well”, Edrington said.
Meanwhile, its The Macallan Colour Collection had “generated outstanding early results in global travel retail”.
Edrington had “navigated a challenging year to deliver financial results that are among the best in the spirits industry,” said CEO Scott McCroskie.
He cautioned, however, that economic pressures seen in the second half of last year would “adversely affect demand” in the year ahead.
As a result, the group was planning “on the basis of lower levels of growth” than those seen since the end of the pandemic, he added.
In September, Edrington acquired Vasyma, a cooperage business based in Jerez, Spain, to secure a prolonged supply of sherry-seasoned oak casks for The Macallan.
It also purchased a 50% stake in its main supplier of American oak, Coopers Oak of Ohio.
Next year, however, a distribution tie-up between Edrington and Beam Suntory in the UK will come to an end.
Beam Suntory is to set up its own dedicated UK commercial business, led by its UK & Ireland MD Nick Temperley.
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