A Glasgow-based whisky firm has announced a huge increase in sales, as many of its leading brands continue to grow in popularity.
Morrison Bowmore is reporting that its profits are up by nearly two-fifths in the year. Saying also that it will continue to focus its core business on single malts, the rise is yet another sign that the whisky industry is in fantastic shape throughout Scotland.
The firm’s 39 per cent rise in profits drove its gross profit up to £8.5 million through the course of the last financial year. The development has largely been a result of its single malts brands.
Much respected in the industry and with connoisseurs across the world, its Auchentoshan, Bowmore, Glen Garioch and McClelland’s brands have all seen what is being referred to as “significant” rises in sales and profits. The firm has also said the news is “excellent”, as it looks to further build on the growth.
Employing in the region of 200 people in Scotland, predominantly in rural areas of the country, Morrison Bowmore runs three distilleries. It has operations in Aberdeenshire, with a further two sites in Clydebank and Islay.
As with many firms in Scotland that are doing well, Morrison Bowmore is continuing to put money in to shore itself for the future. A large number of companies are doing this with the help of invoice finance facilities, such as factoring and discounting.
The whisky distiller is investing its available cash in its long term whisky stocks; mainly building up its single malts which are increasingly being sold in Asia and other emerging markets.