|
16th September 2011 |
Drambuie
today announced its financial results to
30 June 2011.
 Globally,
Drambuie case volumes have risen for a
second year in succession by 1%. This is
despite challenging trading conditions
in the traditional markets of the USA,
UK and southern Europe and the much
publicised collapse of the Greek
economy, Drambuie’s third largest
market.
The highlight of the trading performance
was the 4% growth in shipments to the
US, which remains Drambuie’s most
important market, and one which had been
in decline until recently. A new
long-term distribution agreement was
negotiated with Bacardi USA, and as part
of this agreement, Drambuie took over
the funding of all brand investment,
providing greater control over trade and
consumer spend.
Sales volumes grew across all regions,
except southern Europe. Sales in
Northern and Eastern Europe rose by 13%
and Latin America by 18%, whilst sales
in the UK were level with last year,
after adverse weather conditions in the
critical pre-Christmas delivery period
cancelled out gains made earlier in the
year. In Greece, total spirits
consumption contracted by approximately
30%, compounded by aggressive trade
destocking, and leading to a shipments
decline of 56%. Trading in Greece has
improved over the past four months with
depletions growth of 33% for the period.
Following its launch at the Tax Free
World Exhibition in Cannes in October
last year, Drambuie 15 was available to
buy in duty free outlets including
Heathrow, Gatwick, Glasgow and Edinburgh
airports. Sales have been buoyant,
achieving over 12% of total Drambuie
sales, with distribution now being
extended to a number of other key
airports. Drambuie 15 has recently been
launched into the UK and USA domestic
markets.
An ultra-premium version of Drambuie is
also to be launched as part of the new
product development strategy. The
Jacobite Collection – The Spirit of ’45
is the most rare and valuable addition
to the Drambuie range. From the lead
crystal decanter, which holds the blend
of 45 year old whiskies infused with the
secret elixir handed down from Bonnie
Prince Charlie, to the hand-etched
crystal replica of the famous
Spottiswoode ‘Amen’ Glass, every detail
of the collection has been created to
capture the craft and heritage at the
heart of Drambuie.
Operating profit at £2.81m is 2% ahead
of last year’s equivalent of £2.75
million, before providing in that year
for estimated awards under the Long-Term
Incentive Plan (LTIP). The balance sheet
remains healthy, with the company
continuing to operate on a debt free
basis. The group had cash balances of
£2.2m at the year end.
As part of Drambuie’s succession plan
Michael Kennedy became managing director
from 1 January this year. However, with
the tragic death in June of CEO Phil
Parnell, Michael took on the role of
chief executive on 1 July. Richard Stone
returned to his previous role of
non-executive chairman.
Michael Kennedy, reporting on Drambuie’s
results for the first time, said: "I
look forward to building on the great
platform that Phil had put in place Our
vision for the company remains
unchanged. We are a highly focused
international brand marketing and
distribution company with a clear
strategy underpinned by world class
distributor management and financial
processes.
"This has been another important year
for Drambuie in terms of attracting a
new generation of consumers. The
foundations have been set and, subject
to global turmoil not disrupting our key
markets, we believe further progress
will be made in 2011-12."
|
Where To Buy Drambuie Online
|
|
Select a country for a list
of specialist Whisky shops who delivers
to you:
|
Whisky Focus
<<<Back to
Whisky Focus for more Whisky News
|
Top
Of Page |
|
|
Online Whisky Shops |
|
|
|
New Whiskies |
| Check out the latest
new whisky releases. |
 |
| Worldwide delivery
available.
More Info |
|
|
|
Whisky Newsletter |
 Keep up to date with
the latest whisky news and special
offers
More Info |
|
