W&M reports a return to form

03 October, 2008

Whyte & Mackay has ridden out the global economic downturn and returned to growth in its first full year since being bought by Indian billionaire Vijay Mallya.

The Scotch whisky producer shrugged off financial market turbulence and posted pre-tax profits of £25.6 million for the 18 months since the takeover

by United Breweries.

The figures show a turnover of

£348 million for the year-and-a-half to the end of March 2008, compared to the company's pre-tax loss of £2.2 million

in the year to the end of September 2006, and £3.4 million the year before.

Dubbed India's Richard Branson, Mallya paid £595 million for Whyte & Mackay in May last year and announced plans to invest around £10 million to increase capacity at the Invergordon distillery.

A spokesman for Whyte & Mackay said: "Our end of year accounts are looking very healthy, which is reflective of the increasing popularity of whisky and

the global growth of Whyte

& Mackay".

He added that all sectors of the business are in growth following a period of restructuring.

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