- Sales in 12 months to end of March rise 45% to GBP821.2m (US$986.6m)
- Compared to pre-pandemic fiscal-2020, top-line increases 22%
Edrington’s positioning of its spirits portfolio at the higher end of the value spectrum has reaped rewards for the privately-owned group in its latest set of figures.
The Macallan and Glenrothes brand owner saw its sales in the 12 months to the end of March trump the corresponding period a year earlier by approaching 50%. When compared to the year to March 2020, the top-line performance also increased, by just over 20%.
Edrington, which is not obliged to announce its sales results to the media, credited “the reopening of the on-trade and travel retail” along with its premiumisation strategy: Revenue per case was up 28% year-on-year as product and channel mix improved and price rises were introduced.
On a by-brand basis, while specific numbers were not disclosed, flagship single malt The Macallan had a “particularly strong” year, with director-to-consumer sales in Asia proving fruitful. Scotch siblings The Glenrothes and Highland Park focused, respectively, on premiumising its position and sales in the US. Blended malt The Famous Grouse, meanwhile, had the reopening of the on-premise in southern Europe to thank for its “positive performance”.
Sales channel-wise, Global Travel Retail “has made a faster recovery than anticipated with stronger and more sustainable profitability”, the company noted.
A non-cash write-down of GBP17.7m was recorded due to the decision earlier this year to cease shipments to Russia.
The return of GTR prompted Edrington to head to China’s Hainan province last month for its latest Macallan-branded activation.
Edrington’s official financial review for fiscal 2022
Asia dominates the IWSR Top 100 Spirits Brands rankings in 2021
