One of Scotland's most northerly mainland distilleries has helped Inver House Distillers increase its profits. The flagship single malt Old Pulteney, produced at Pulteney Distillery in Wick, grew sales by 20%.
Overall, the whisky subsidiary of global drinks business International Beverage Holdings, reported a sales increase of 7.4% for the year to September 2018, with turnover at £67.3 million, up by £4.6 million (7%) on the prior year. Gross profit margins were up 39% compared to 36.6%, while operating profit at 13.7% reflects higher margins on sales of single malts
Sales of Inver House single malts grew by over 12% in the year, while premium gin Caorunn also reported double digit growth.
Meanwhile investment in stocks for future brand growth was up 3.5% to £122 million.
Martin Leonard, Inver House Distillers managing director, said: ‘With trading conditions challenging in many emerging markets, it was encouraging to see sales of our single malts grow significantly in the period. This is the result of having consistently invested in our people, in production at our distilleries, in the quality of our spirits and in their sales and promotion.''
"We also now have the channels in place to grow our brands in markets around the world, so our focus is very much on rolling out some exciting plans and building further success in 2019 and beyond.''
