Cautious consumers pull Edrington down in fiscal 2025 – results data

The decline was blamed on “a reduction in consumer confidence and a more cautious approach to spending across almost all markets where we operate”. Among the markets referenced in the report was China, where although The Macallan was in (unspecified) growth year-on-year, Edrington’s wider business was “weaker at the higher end”. That said, the flagship single malt brand did well with its core expressions in its 200th anniversary year.

Elsewhere, however, single malt peers The Glenrothes and Highland Park delivered “the most significant decline” although the company expressed confidence the pair “are well-positioned when markets recover”.

Edrington provided restated sales figures for the last three financial years that do not include blended scotch whiskies The Famous Grouse and Naked Malt, both of which were sold to William Grant & Sons this week.

“The political and economic backdrop remains volatile, which we expect will weigh on consumer sentiment in the coming year,” said CEO Scott McCroskie. “We believe top line growth will be difficult to come by in this environment … .

“Edrington’s strategic focus on ultra-premium spirits remains effective. We will continue to execute it in order to strengthen our brands and our business … .”

Also mentioned in the annual report was the decision to make an unspecified number of employees redundant, “as a result of lower levels of activity, especially in bottling, and the need to adjust the size of our business to reflect the lower level of income”.

The headcount reduction is in line with other spirits companies, including Brown-Forman, Campari Group, Moët Hennessy and Pernod Ricard.