Surging exports helped independent whisky maker Ian Macleod Distillers to bumper gains in sales and profits in the past year.
The maker of Glengoyne Highland Single Malt said sales were up 22% to £31.9m in 2010, while pre-tax profits soared by 41% to £3.1m.
Ian Macleod said exports grew across Europe, the Gulf region and the Middle East. During the year, the distiller also set up a subsidiary in India.
“India is a key growth market for us and this is an ideal time to establish a presence due to recent and expected changes in the customs and state-specific excise duty rates,” said managing director Leonard Russell.
“The creation of this distribution company is an excellent springboard from which to establish our brands in India.
“It is something I have been personally striving to make happen and I believe it will lead to good growth opportunities for us.”
Rich pickings for exporters as Cameron charms China (13 November 2010)
Cable backs Diageo’s bid for China spirits group (8 November 2010)