THE FIRM which owns the Edradour Scotch whisky distillery in Pitlochry has reported a 10.5 per cent increase in turnover, driven by export sales to markets including Japan and Taiwan.
Signatory Vintage Scotch Whisky Company made a pre-tax profit of £6.7 million, up 30 per cent, on revenue of £11.7m.
Writing in accounts newly filed at Companies House, the directors said the “significant margin expansion” came as a results of price increases and improved product mix.
The growth of Edradour single malt whisky was 5.7 per cent in volume terms, with sales revenue up 20.7 per cent.
Providing an update on a second distillery being built at Edradour, the directors said distillation is due to begin next month, increasing capacity to 200,000 litres of alcohol per year, with space for additional washbacks which could increase this to 500,000 litres.
The directors said that there remained a general shortage of stocks against forward sales forecasts, but this should ease in 2021 when additional stocks laid down to mature in 2011 when the company moved to a six day week will help alleviate this.
Post year-end the company acquired £4.9 million in stock, drawing down £4m of bank funding to support the purchases.
The company employed an average of 21 people.
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