Whisky-maker BenRiach Distillery Company (BDC) unveiled investment plans for its Glenglassaugh operation, near Portsoy, yesterday.
The firm aims to acquire and create new warehousing on the site as it is fast running out of space to lay down stocks.
It is also setting aside cash – as part of a £25million investment – to buy up bottles of its whiskies from privately-owned collections as it tries to keep pace with fast-growing global sales.
BDC, based in Newbridge, Edinburgh, said “unprecedented” demand for its whiskies drove it to a 24% increase in profits during 2014.
The group behind the BenRiach, GlenDronach and Glenglassaugh single malt brands added it made record pre-tax profits of £11.1million last year, compared with just under £9million in 2013.
Turnover was up by 17.6% during the latest period, to £41.5million.
Sales Director Alistair Walker said: “The top five markets for our whisky brands are Taiwan, Germany, UK, Africa and the US, where we have really pushed on in 2014.
“Of these, Taiwan continues to be huge for us. It’s part of the overall spirits boom in Asia and its consumers have a taste for premium brands so it’s a great fit with our growth strategy.
“Within our portfolios, special mention should be made of the Glenglassaugh range, which has significantly outperformed against forecast.
“Our flagship GlenDronach 12-year-old expression (produced at at Forgue, near Huntly) continues to be our best-selling brand, with fantastic worldwide sales and growth this year.”
Mr Walker added: “Another recent high point was the launch of our BenRiach 10-year-old single malt in 2015, the first core range expression to be produced predominantly from whisky distilled under the BenRiach Distillery Company’s stewardship.
“We have a wide customer base and currently ship to over 40 countries, but there is still potential for growth in the likes of Hong Kong, Singapore, Korea and much of Africa and South America. The future for all our brands is tremendously exciting.”
Mr Walker said the lack of available space to lay down stock had been a “pressing issue” for some time, prompting the decision to invest in extra storage at Glenglassaugh.
BDC was founded by managing director Billy Walker and his two South African business partners, Geoff Bell and Wayne Kieswetter, in 2004.
The company now employs 120 people across four sites, including the BenRiach distillery between Rothes and Elgin.
Billy Walker said: “We’re delighted to announce record profits in our 11th year and it’s all down to the hard work, passion and commitment of our people.
“Further acquisitions are possible – we’re open-minded and if something came up adding value and balance to the business, we would certainly consider it.”
Last week, Bruichladdich Distillery on Islay said it was on track to more than double its output after being given the go ahead to build six maturation warehouses.
It had also been running out of storage space.