CHIVAS Brothers saw pre-tax profits fall 22 per cent to £284 million in the year to June 30, as the producer contended with a reduction in foreign exchange gains and an increase in marketing costs.
Revenue for the year was up marginally to £928m with the company noting that its sales continued to be well-spread geographically, and Chivas made a £6m gain on foreign exchange in the year.
In Europe, sales fell 1.3 per cent to £380m, and in Asia by 2.3 per cent to £254m, while in America, sales climbed 3.6 per cent to £233m.
The value of the group’s stock increased by four per cent to £1.3 billion, which the group said demonstrated the group’s continued confidence and investment in the long-term growth of the Scotch Whisky industry.
Chivas last year announced it was moving its Paisley headquartered to a site in Dumbarton, with £40m being invested over the next three years.
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