AGRICULTURAL merchant Simpsons Malt has affirmed its confidence in the Scotch whisky sector in spite of falling exports.
That came as the malt supplier booked an increase in pre-tax profit from £7.5 million to £9.4m in its most recent year.
That came in spite of a dip in turnover from £157.9m to £155.8m in 2014.
Tim McCreath, managing director of the family owned Berwick-upon-Tweed business, said: "Turnover was down purely due to the decrease in raw material prices."
Writing in the accounts directors said: "Despite a reduction in Scottish whisky exports during the year the distilling industry remains confident of strong global demand for Scotch. As our customers continue to invest in new distilling capacity we are well placed to support their needs."
Mr McCreath said there has been evidence of a levelling off in Scotch growth even as new micro distilleries spring up.
However sales to the craft beer sector, particularly in the United States, remains very strong.
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