The spirits group behind Macallan and Famous Grouse has been hit by a £239m writedown for its Brugal rum brand as sales in Spain and the Dominican Republic proved difficult.
Overall sales at Edrington for the year to 31 March were down from £755.3m 12 months ago to £747m. Pre-tax profits before exceptional items slipped £16.4m to £157.6m and plunged £52.7m into the red after the £239m charge.
A declining rum market and increased competitionled to a reduction in Brugal volumes in its two key countries.
Booming international sales of The Macallan provided some relief, with growth of 10.5% in the period.
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