The Aberfeldy distillery which is owned by John Dewar & Sons Ltd
Scottish whisky distiller John Dewar & Sons has posted a large jump in annual profits last year.
The Bacardi-owned company, which operates the Aberfeldy distillery and four others in Scotland, saw its pre-tax profits rise by 89% to £37 million for the year ending March 31 2017.
Profits were boosted a one-off gain of £18m from the transfer of trademarks and associated rights to another group company. Stripping out this gain, operating profit decreased by 3.7% on sales of £114.5m.
Dewars, which was established in Perth in 1846, purchased the Bombay Spirits Company in September which director John Henderson said should lead to strong results in future years.
He said: “Continued volume growth in emerging markets has had a positive impact on results in recent years and the directors expect this to continue in future years, with further capital investments planned to support this growth.
“In particular, the company embarked on a major investment during the year to expand its bottling capability and capacity to enable it to bottle the group’s main gin products.
“The transfer of this production is now under way and the directors expect this to increase revenue in future years.”
Whisky producer John Dewar & Sons toasts strong rise in profits
