|
Inver House
Distillers reports sales and profits
rise led by their flagship single malt
Old Pulteney.
Inver House Distillers, the Scotch
Whisky subsidiary of global drinks
business International Beverage Holdings
Ltd which owns the Old Pulteney,
Balblair, anCnoc and Speyburn single
malts has reported a sales increase of
7.4% for the year to September 2018.
This reflects a period of significant
growth for its core brands, with sales
of Inver House Single Malts growing by
over 12% in the year.
This success was led by the company’s
flagship single malt Old Pulteney,
produced at Pulteney Distillery in Wick,
which grew sales by 20%. The company’s
super premium Scottish gin Caorunn also
reported double digit growth.
The business remains focused on the long
term global success of its brands,
especially its single malts, with
sustained investment in stocks for
future sales, marketing and promotion.
Time will tell how the companies
decision to launch a
new Old Pulteney core range line-up
in August 2018 followed by a
new
Old Pulteney travel retail line-up
in October last year will impact
sales but having
tasted them I could only guess the
future looks good for their Old Pulteney
brand.
The financial results in summary:
- Turnover at £67.3 million, up by
£4.6m (7%) on the prior year.
- Gross profit margins were up on
the prior year at 39% compared to
36.6% in the prior year, with core
brands making up a larger percentage
of sales.
- Other operating expenses
increased as more monies were
invested behind promoting brands.
- Operating Profit at 13.7%
reflects higher margins on sales of
single malts.
- Profit before tax at 10.2% up on
the prior year percentage of 9.1%.
- Caorunn Gin sales continue to
grow at double digit.
- Continued investment in stocks
for future brand growth, up 3.5% to
£122m.
Martin Leonard, Inver House
Distillers Managing Director
commented: ‘With trading conditions
challenging in many emerging
markets, it was encouraging to see
sales of our single malts grow
significantly in the period. This is
the result of having consistently
invested in our people, in
production at our distilleries, in
the quality of our spirits and in
their sales and promotion. We also
now have the channels in place to
grow our brands in markets around
the world, so our focus is very much
on rolling out some exciting plans
and building further success in 2019
and beyond.’
You will find
Inver House Distillers
Old Pulteney, Balblair, anCnoc
and Speyburn single malt
ranges available from specialist whisky retailers
such as
The Whisky Exchange,
The Whisky Shop and
Master of Malt
|
