Glenmorangie hit by focus on single malts

Published on 24/08/2012 00:00

Glenmorangie has seen its annual sales fall by a fifth following its decision to focus on single malts.

The distiller, owned by luxury goods group LVMH, said the decline was in line with its expectations and reflected its move away from the blended Scotch market.

Turnover for the year to 31 December fell to £59.8 million, from £75.6m a year earlier, accounts filed with Companies House showed. Operating profits from continuing operations dipped 8.8 per cent to £12.5m.

The Edinburgh-based firm said its core Glenmorangie brand remained the fast-growing single malt in the US, and along with the Ardbeg portfolio, was enjoying good sales in Asia and mainland Europe.