Edinburgh-based whisky firm Drambuie has seen a widely varying sales performance in the last year, with the economic landscape in Europe being largely responsible.
Overall sales remained flat, with falling sales across Southern Europe being blamed for this. Most particularly, the firm has cited the sharp decline in its Greek market as undermining its 2011 performance.
It was not all bad news for the firm though, with other areas countering these falls.
Global sales increased by five per cent, for example. The launch of its new Drambuie 15 brand has proven very popular in domestic markets too. There was also a growth of the brand into emerging markets such as South East Asia, while India saw its first shipments of the liqueur arrive.
The potential from emerging markets is something many Scottish firms are eager to exploit.
As a result, investment through commercial finance in Scotland is eagerly sought. Many firms are also liquidating outstanding invoices through factoring and discounting to help.
For its part, Drambuie’s performance in the existing markets of Australia, Germany and Turkey was also strong. Its operating profit also rose by nine per cent when linked to constant exchange rates.
With Drambuie still in the midst of a major rebranding project, the results have largely been welcomed by the board. There is also an eagerness to take things further forward, with the firm’s chief executive Michael Kennedy saying:
“We look forward to another exciting year.”
Its results in the next year will be closely linked to the ongoing global economy though – something which many Scottish firms will be watching with interest over coming months.