Premium goods boost W&M profit

05 February, 2010

Whyte & Mackay is in a celebratory mood after reporting a leap in pre-tax profits.

Accounts filed at Companies House reveal the Scotch distillers’ pre-tax profits rose to £31.7 million in the year to March 31, 2009, compared with £25.6 million in the previous 18 months.

Operating profits reached £45.6 million after exceptional costs of £3.2 million, which were related to an increase in lease costs. This compares to £49.4 million for the preceding 18-month period.

Turnover for the year stood at £216 million, compared with £348.1 million for the prior 18 months.

Glasgow-based W&M – which owns the Dalmore and Isle of Jura single malt whiskies, along with Vladivar vodka and Glayva liqueur – said it had benefited from a surge in popularity of “premium” products, such as the special- edition Dalmore Sirius whisky, which sold out within four days despite being priced at £10,000 a bottle.

A statement in its annual accounts added: “Strategic growth will be brand-led but will be supported by maintaining contribution levels on contracted bulk spirit and private-label business and by focusing on initiatives to drive down overall costs, increasing profitability.”

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