The Macallan Fine & Rare collection. Photo credit Mark Power, Magnum Photos
The Macallan Fine & Rare collection. Photo credit Mark Power, Magnum Photos

Edrington, the spirits company which owns The Macallan, Highland Park and The Glenrothes amongst others has reported core revenue of £679.8m for the financial year ending 31 March 2019, up 9% from 2018.

Profits for the same period were up 4% to £91.6m, a 4% increase over the 2018 period.

The firm invested £137.3m in its brands, 7% more than it did in the previous year.

The Macallan distillery. Photo credit Mark Power, Magnum Photos

Edrington’s leading brand, The Macallan consolidated its position as the world’s most valuable single malt Scotch Whisky, opening its new £140m distillery and brand home in Craigellachie, Moray.

Brugal, Edrington’s premium rum, delivered double digit growth in sales and contribution, principally through the success of its premium brand strategy in its home market, the Dominican Republic.

Scott McCroskie

Commenting on the results, Scott McCroskie, the new chief executive, said: “We have made further progress this year towards building the world’s leading portfolio of exceptional super premium brands.

“A 9% rise in core revenue and 6% growth in core contribution is encouraging as it has been achieved against a backdrop of significantly increased brand investment, upgraded packaging and investment in capacity and capability. In line with Edrington’s increased focus on super premium spirits, exceptional proceeds of £124.2m were received last year from the sales of the Cutty Sark and Glenturret brands.

“The business has delivered strong international growth that reflects continuing consumer demand for our products, particularly in China, South East Asia and the USA, which is the world’s largest market for premium spirits.”

Mr McCroskie also paid tribute to former chief executive Ian Curle, who retired at the end of the financial year. “These results underline the strength of the business built up during Ian’s 15 years as chief executive. It is an honour to succeed him as leader of this unique company.

“I am proud of what we have already achieved, and I am certain that as we intensify the focus on our super premium brands, we will deliver further success in the future.”