Inver House Distillers, maker of Old Pulteney, Balblair and Speyburn whiskies and Caorunn gin, has seen sales and profits fall as it looks to shift the focus of its business.
The Airdrie-based firm’s managing director Graham Stevenson described 2015 as a year of transition as it looks to reduce reliance on bulk and lower-value products and concentrate more on its premium brands.
Turnover fell 15.2 per cent to £67.2 million, blamed largely on a reduction in sales of bulk whiskies. Pre-tax profits fell 19.5 per cent to £9.5m, although gross profit margins improved 3.2 per cent as Inver House said its core brands continued to perform well.
The firm, owned by InterBev, said all four single malts – Old Pulteney, Speyburn, anCnoc and Balblair – showed “excellent growth”.
Annual sales of its premium small-batch gin, Caorunn, which is made at the Balmenach distillery in Speyside, rose by 65 per cent.