Drambuie records leap in full-year profits17 September 2012
Scottish whisky liqueur maker Drambuie has booked an 84% increase in full-year net profit to £2.8 million.
Drambuie increased net sales by 4.5% to £22.9 million and operating profits were up by 29% to £3.6 million.
Price increases and the launch of Drambuie 15 in Europe, the US and Asia offset challenges in southern Europe – volumes were down 27% in Greece and the company suffered similar losses in other European states affected by the euro zone crisis.
The Glasgow-based firm also benefited from a weak comparison in 2011 and a positive impact from currency fluctuations.
“The company has made good progress over the last few years as we rebuild the brand,” said Michael Kennedy, Drambuie’s chief executive.
“The team expects to continue this progress in the forthcoming year, providing the current global turmoil does not further damage trading conditions across Drambuie’s key markets.
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