OVERSEAS demand for whisky brands such as Old Pulteney has helped Inver House Distillers deliver a 13 per cent jump in sales.
However, the firm – which also makes the Hankey Bannister blend and Speyburn single malt – saw its profits slide because of heavy investment in its distilleries and stock.
Pre-tax profits for 2012 fell 21 per cent to £12.3 million, on sales of £91.1m, as gross margins dropped more than 8 percentage points to 27.5 per cent. Managing director Graham Stevenson said the firm had been buying a lot of stock on the market as it sought to keep more of its own reserves for future use.
He added: “The investment that we have made in stock reserves in 2012 has been an essential part of developing our strategy as consumer demand increases in the global market.
“Whilst it has had an impact on our profit margins this year, the underlying picture is very positive for our brands.”