The Macallan Distillery

Edrington sees full year sales rise 11%

01 July, 2024

Scottish spirits company Edrington saw its core revenue rise 11% for the year to 31 March 2024, driven by The Macallan which saw double-digit growth.

The firm reported full-year revenue of £1.16 bn, noting that it increased investments in the supply chain that provides the sherry-seasoned oak casks for The Macallan, through the acquisition of the Vasyma cooperage business based in Jerez, Spain, and a 50% stake in its main supplier of American oak, Coopers Oak of Ohio.

The company also said it had demonstrated growth despite a global reduction in consumer spending in the second half of the financial year.

Edrington found that markets in Asia Pacific showed strong growth, with China performing well. In the GTR space, the firm said The Macallan Colour Collection “generated outstanding early results”.

Chief executive Scott McCroskie, said: “Edrington has navigated a challenging year to deliver financial results that are among the best in the spirits industry. Our strategy of focusing on ultra-premium spirits continues to deliver healthy brands and a strong underlying performance. 

“However, we consider that the economic pressures that we saw in the second half of last year will adversely affect demand. While we will continue to invest in our brands, in our operations and in sustainability, the business is planning for the coming year on the basis of lower levels of growth than we have experienced since the end of the pandemic,” McCroskie added.

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