Perthshire whisky-maker Tullibardine nearly doubled its profits during 2015.
Accounts lodged at Companies House show the boutique distillery made pre-tax profits of more than £4.5million last year, up from £2.39million in 2014.
Turnover in 2015 totalled nearly £20million, against £16million a year earlier.
Tullibardine is owned by French company Terroirs Distillers, which is itself a subsiidary of Picard Vins and Spiritueux.
Other whisky brands within the group include Highland Queen and Muirhead’s.
Summing up 2015, Tullibardine said growth in both volume and margins reflected “the growing success of the company’s brand and international development of its global business.”
The firm added: “The distillery again operated close to its maximum capacity throughout 2015, and it is expected to continue to operate at this level in 2016.
“It is anticipated that the growth of the Tullibardine brand will continue during the coming year as teh company explores new opportunities and new markets.”
