Drambuie edges up on balance

Rising sales in northern Europe and the Americas helped whisky liqueur maker Drambuie offset a slump in its third-largest market, Greece.

The country’s economic misfortunes meant Greeks cut back on the spirit by 30 per cent in the year to 30 June, leading to a decline in shipments of 56 per cent.

Sales volumes grew across all regions except southern Europe, helping Drambuie to make an operating profit of £2.81 million, up 2 per cent on the previous year.

The firm, which is privately-owned by the MacKinnon family, said the highlight of the trading performance was a 4 per cent growth in shipments to the US, which remains its most important market, but had been in decline until recently.

Sales in northern and eastern Europe rose by 13 per cent and in Latin America by 18 per cent. Figures for the UK were level after adverse weather conditions in the pre-Christmas delivery period cancelled out gains made earlier in the year.

Chief executive Michael Kennedy, pictured, said: “This has been another important year for Drambuie in terms of attracting a new generation of consumers. The foundations have been set and, subject to global turmoil not disrupting our key markets, we believe further progress will be made in 2011-12.”

Kennedy arrived as managing director in January and became chief executive following the sudden death of executive chairman Phil Parnell in June.