Glasgow-based drinks company Edrington — owner of Scotch whisky brands The Macallan, Highland Park and The Famous Grouse — said its profit before tax and exceptional items rose 6% to £411 million in the year to March 31, 2024.

Edrington said its “core revenue” rose 11% to £1.165 billion.

However Edrington CEO Scott McCroskie warned that the economic pressures the group saw in the second half of last year will adversely affect demand going forward.

The CEO said Edrington is planning for the coming year on the basis of lower levels of growth than it has experienced since the end of the pandemic.

Edrington’s principal shareholder is The Robertson Trust.

“The business demonstrated robust growth despite a global reduction in consumer spending in the second half of the financial year …” said Edrington.

“Edrington increased its investments in the supply chain that provides the highest quality Sherry-seasoned oak casks for The Macallan through the acquisition of the Vasyma cooperage business based in Jerez, Spain, and a 50% stake in its main supplier of American oak, Coopers Oak of Ohio …

“Edrington’s focus on ultra-premium products has driven growth, with The Macallan continuing to lead the company’s performance.

“There was high demand for premium products including the brand’s collaboration with Bentley Motors to produce The Macallan Horizon and with Stella and Mary McCartney on the newest edition of The Macallan Harmony Collection.

“Markets in Asia Pacific showed strong growth, with China performing particularly well. The Macallan Colour Collection has generated outstanding early results in Global Travel Retail.”

Edrington CEO Scott McCroskie said: “Edrington has navigated a challenging year to deliver financial results that are among the best in the spirits industry.

“Our strategy of focusing on ultra-premium spirits continues to deliver healthy brands and a strong underlying performance.

“However, we consider that the economic pressures that we saw in the second half of last year will adversely affect demand.

“While we will continue to invest in our brands, in our operations and in sustainability, the business is planning for the coming year on the basis of lower levels of growth than we have experienced since the end of the pandemic.”

Edrington’s other brands include The Glenrothes in the fast-growing single malt category, Naked Malt in the blended malt category, Brugal premium rum from the Dominican Republic, and Wyoming Whiskey in the American Whiskey category. Edrington also has a strategic partnership with No.3 London Dry Gin.

Edrington is headquartered in Scotland and employs over 3,300 people in its wholly owned and joint venture companies, with over half employed outside the UK.