Grouse performance 'solid' – Edrington

14 September, 2010

Edrington has reported “solid performance and increased profits" from its Famous Grouse brand in the 12 months to March 31.

The group saw pre-tax profits rise by 25% to £118.6 million on turnover of £468.3 million, an increase of 11% on the previous year.

The company said it expected this year’s acquisition of Cutty Sark to bear fruit in 2010/11.

Chief executive Ian Curle said: “We have maintained our focus on premiumisation, quality and service, while seeking to provide value to the trade and our customers.

“This strategy is bearing fruit as we continue to outperform the category in our key markets.

“We remain confident about the long-term growth prospects for premium, authentic spirits brands, but the board remains cautious in its view of trading prospects in the short- to medium-term, due to challenging market conditions, especially in Europe.”

Nielsen figures in OLN's 2010 Spirits Report showed the off-trade value of Famous Grouse sales down 2% in the year to July 10.

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