Edrington sees sales and profits slump on spirits downturn

Sales and profits at The Macallan whisky maker Edrington have slid by double digits following a challenging year blighted by “reduced consumer demand”.

The privately owned spirits business said “core” revenue declined by 10% to £912m in the year ended 31 March 2025. Profits before tax, meanwhile, fell by 26% to £274.4m.

The decline in sales was “broadly consistent across international markets”, said Edrington, with exceptions including a “resilient” showing by Brugal Rum in the Dominican Republic and The Macallan in South Korea and Japan.

The Macallan 12, 15 and 18-year-old expressions, meanwhile, “continued to grow in China”.

“After several years of unprecedented growth for premium spirits and industry-leading results posted by Edrington, the business felt the full effect of the global economic downturn during the year,” said CEO Scott McCroskie. “Looking ahead, the political and economic backdrop remains volatile, which we expect will continue to weigh on consumer sentiment in the coming year. We believe top-line growth will be difficult to come by in this environment.”

In response to sliding sales, brand investment had been reduced by 9%, Edrington said.

Meanwhile, in line with the company’s “focus on ultra-premium spirits”, its The Famous Grouse and Naked Malt brands were sold to distilling peer William Grant & Sons. The deal, announced in September, completed earlier this week.

Other activities undertaken by the supplier in the last financial year included embarking on a new partnership with the Tevasa cooperage in Jerez and two sawmills in northern Spain. The moves are a continuation of a supply chain overhaul started by Edrington in 2023.

The supplier’s Highland Park single malt whisky, meanwhile, launched new branding and packaging inspired by its Orkney home. Its distillery also received a number of upgrades designed to reduce its carbon footprint.

“Edrington’s strategic focus on ultra-premium spirits remains effective,” McCroskie insisted. “We will continue to execute it to strengthen our brands and our business for the long-term benefit of our investors, our employees, and those who benefit from our own and our principal shareholder’s charitable activities.”