A boost in worldwide sales of Edrington’s flagship single malt and the impact of Brexit has led to Macallan Distillers reporting an increased turnover of 8.1%.
In their annual strategic report for the year ending March 2017 the company, a subsidiary of the Edrington Group, reported a revenue of £145.3million compared to £134.4million the year before.
It said: “This is as a result of the increased sales volume across the globe, particularly in the Americas and across Europe combined with a favourable impact of currency retranslation due to the weakness of sterling throughout the second half of the year following the Brexit vote.
Pre-tax profits were also up £7million on last year to £115million.
The firm said this was attributed to an increased level of trading in the year combined with favourable foreign exchange movements and higher divided income from Edrington Singapore.
The company said: “The Macallan experienced strong growth on both sales volume and contribution in the year.
“New product launches, Edition 2 and Double Cask 12 Year Old, had a positive impact on profit and consumer recruitment. As direct to consumer capabilities increased, online sales of The Macallan saw a significant increase, offering a variety of limited releases such as the 40 Year Old.”
The company said the operating profit margin had fallen, however, from 51.2% to 46% as a result of spending on advertising and promotion. Overall brand investment spend has also increased year on year.
