Inver House Distillers, the Scotch whisky subsidiary of International Beverage Holdings, has delivered a robust performance in the year to December 2014, led by the growth of its focus brands amid increasingly difficult market conditions.
The Airdrie-based business reported a 2.8% rise in turnover across its portfolio to £79.2m, with volume and value growth from single malts Old Pulteney, anCnoc, Balblair and Speyburn, and from premium blend Hankey Bannister and super premium gin Caorunn. Profit before tax rose over 23% to £11.8m.
In a year that marked Inver House Distillers’ 50th anniversary celebrations, the business retained a focus on the long term global success of its brands, with significant investment to build stocks and capacity, most notably through a major expansion programme at Speyburn Distillery, an upgrade of Balmenach Distillery and the construction of new warehouses at the Airdrie headquarters.
With trading conditions challenging in Russia, China and other emerging markets, the business successfully focused investment to deliver strong growth of its focus brands in the UK, USA, Germany, Poland and certain African countries.
Commenting on the results, Inver House Distillers’ Managing Director Graham Stevenson (pictured) said: “2014 was a significant year for our business, with our 50th anniversary giving us the chance to reflect on the company’s development over the years and also to toast our success to date. As our results demonstrate, we have reason to celebrate, given the ongoing strength of our award-winning brands in markets around the world, led by the tremendous skill and commitment of our distillery and operational teams across the business.”
