Edrington Reports Healthy Profits

The Edrington Group has this week reported a group turnover growth of 18.2% over the last year, while profits are up an impressive 19.3%.

Commenting on the results, Ian Curle, chief executive, said today: “I am pleased to report that The Group continues to make good progress and we have further improved Edrington’s strategic position and business performance during 2010/11.

“The strategic position of the Group was enhanced with the acquisition of the Cutty Sark brand and by taking ownership of the Maxxium distribution companies in China and Hong Kong.

“Our strong financial performance was supported by brand growth, increased earnings and improved cash flow.”

The key results for the 12 months ended 31st March, 2011 are as follows:

FINANCIAL HIGHLIGHTS

• Group turnover UP 18.2% at £553.4m (2010: £468.3m)
• Profit before tax (excluding exceptional items) UP 19.3% to £141.5m (2010: £118.6m)
• Shareholders’ earnings (excluding exceptional items) UP 20.1% to £65.0m (2010: £54.1m)
• Dividend UP 16.1% to 27p (2010: 23.25p)

BRAND HIGHLIGHTS

• The Famous Grouse grows by 4% with premium expressions contributing 8% growth
• The Macallan grows by 14% to over 700,000 cases
• Brugal consolidates position as number one rum in Spain and grows into other markets
• Cutty Sark adds one million cases of sales to the Group in first full year of ownership
• Highland Park grows by 9%

ROUTE TO MARKET

China and Hong Kong distribution companies become part of the Group. Edrington directly controls eight distribution companies.

CORPORATE

William A. Robertson formed a partnership with John W. Baxter in 1861 to create the business that would evolve into the present day Edrington Group. 150 years later the Group has 2,300 employees mostly based overseas.

More whisky industry news