The global drinks group Edrington this week announced a full-year profit of +32% for the fiscal year 2016-17.
Edrington is well suited to benefit from the modern alcohol trends of craft and whisky. The company owns and produces a collection of well-known premium brands, including The Macallan and Highland Park in the Scotch category, and Brugal in rum.
“2016-17 was a significant year of growth for Edrington despite a difficult backdrop of economic and political volatility, and a fiercely competitive marketplace,” says Ian Curle, Chief Executive of Edrington (pictured atop). “Since its introduction in 2015 our strategy – Perfect The Macallan, Accelerate Highland Park, develop Super-Premium, Optimise Regional Power Brands – has gained momentum and positively impacted results.”
“Higher levels of investment in brand marketing, increased innovation, and greater focus on consumers have led to an encouraging performance,” he adds. “Despite short term uncertainty we are confident about the medium and long term prospects for the business.”
The company’s profit during the prior fiscal year was $118.3 million, up from $89.8 million in 2015-16.
“The Macallan delivered another strong year of sales volume and revenue growth, enabling higher levels of brand building investment whilst delivering profit growth,” the company says in a release. “The brand’s new distillery and brand home will be completed this year.”
“Highland Park achieved contribution growth in line with Edrington’s overall performance,” the company adds. “The brand’s packaging has been revamped for 2017-18 to reflect its Viking Soul positioning.”
Edrington this year also purchased the The Glenrothes brand of Scotch whisky.