The distiller, Morrison Bowmore, has reported a 39% rise in its profits, making a pre-tax profit of £8.5m in 2012. The company’s reported a “significant increase” in turnover and profits last year for its single-malts — Bowmore, Auchentoshan, Glen Garioch, and McClellands. They described the excellent performance as being “the result of the company’s continued strategy of focusing resources and investment behind our single-malt brands.”
They explained that this was the main reason behind increased borrowing last year — up from £25.1m to £37.7m. The business is continuing to invest in long-term stocks to meet growing demand for its single-malts. Morrison Bowmore is owned by the Japanese drinks giant, Suntory, which bought it in 1994. Most of the borrowings are from within the Suntory group, which also reported a 27 per cent net rise in its profits for the half-year to some £308 million.
The company’s headquarters are in Glasgow from which it operates three distilleries — Bowmore on Islay, Glen Garioch at Oldmeldrum in Aberdeenshire, and Auchentoshan near Clydebank. It employs over 200 people in Scotland – many in rural areas.
Figures from the Scotch Whisky Association confirm that the sector has managed defied the economic downturn. It has consistently topped Scotland’s export figures, worth £4.27 billion in 2012. Companies like the Edrington Group, makers of The Famous Grouse and The Macallan, have announced plans to increase capacity. Diageo and Pernod Ricard are also investing heavily to increase their production.