Bowmore and Auchentoshan owner’s profits soar

Morrison Bowmore Distillers, owner of Bowmore and Auchentoshan Scotch whiskies, reported a 7% hike in  profits to £9.1 million last year, as the company works to increase whisky stocks to meet future demands.

The Glasgow-based distiller also reported a rise in sales of 12% to £55.6 million for the year to December 2013.

The rise in profits came despite distribution costs increasing by approximately £2 million from £10.3 million in 2012 to just over £12 million in 2013.

In annual accounts made available via Companies House, the company said: “Our strategy focuses on delivering volumes and profitability from our single malt brands, which will be achieved by continuing to concentrate our resources and investment behind Bowmore, Auchentoshan, Glen Garioch and McClellands.

“The results for the 12-months to December 31 highlight the effectiveness of this strategy with all of our single malt brands reporting a significant increase in volumes, turnover and profitability.”

Morrison Bowmore had previously reported a 39% increase in profits for the 2012 year to £8.5 million when sales jumped 12% to £49.8 million, which it attributed to increased investment in its single malts portfolio.

Total borrowing fell marginally in 2013 to £37.4 million from £37.6 million in 2012, a result which the company said came about despite continued investment in single malt brands to keep up with demand.

The group stocks were valued the same as reported in 2012 at £86.6 million, with a total of £82.7 million credited to whisky stock.