Close Menu
News

Angus Dundee FY sales drop 24%

Scotch whisky maker Angus Dundee Distillers saw its turnover plummet by nearly a quarter in the year to 30 June 2024.

Glencadam Distillery
Angus Dundee will open a visitor experience and VIP suite at Glencadam Distillery this year

According to a filing on Companies House, the single malt whisky producer reported a sales loss of 24% to £61.8m (US$75.3m) in the 12 months to 30 June 2024, down from (US$99.5m) in its previous full year.

Operating profit for the 12 months plunged by 54% to £13.2m (US$16.1m), down from £28.6m (US$34.8m) in 2023.

The company noted that it had been exposed to ‘key risks’ such as a drop in consumer demand, fraud and business disruption, ongoing wars in Ukraine and the Middle East, and inflation and cost-of-living challenges.

For the future, the group said it would continue to invest in the modernisation of its malt distillery and bottling plant and develop its operations both overseas and in its home market.

Angus Dundee Distillers did not provide a statement when asked by The Spirits Business.

The company operates two distilleries in Scotland: Tomintoul in the Cairngorms National Park, and Glencadam in Brechin, located in the Eastern Highlands.

A new visitor experience and VIP suite is expected to open at Glencadam this year. The distillery was mothballed in 2000, before being brought back by Angus Dundee Distillers in 2003.

Angus Dundee also operates a bottling and production plant in Coatbridge on the outskirts of Glasgow.

In addition to single malt, the group produces a range of blended Scotch whiskies, rum and gin.

Angus Dundee has also expanded to China, where it is building a malt whisky distillery in Chun’an, along with a visitor experience.

Exports of Scotch whisky fell by 18% in the first half of 2024, according to the Scotch Whisky Association (SWA).

The SWA recently revealed the Treasury has lost £500,000 (US$607,000) a day in revenue since the double-digit hike on UK spirits tax came into force on 1 August 2023.

Related news

World Spirits Report 2024: Scotch whisky

Ardbeg tops Milroy’s Scotch whisky tourism guide

The Scotch Whisky Masters 2024 results

It looks like you're in Asia, would you like to be redirected to the Drinks Business Asia edition?

Yes, take me to the Asia edition No