Glasgow-based whisky, gin and rum company Edrington — owner of The Macallan, Highland Park and The Glenrothes — said its core revenue slipped 3% to £855 million and its reported profit before tax fell 7% to £256 million in the year to March 31, 2026.
The performance was mitigated by a strong performance in The Macallan core products, including double-digit growth in sales of The Macallan 12-year-old.
Dividend per share was maintained at 41p.
“Against a backdrop of volatility and continued pressure on consumer spending, particularly within ultra-premium and prestige spirit products, the company delivered a strong performance in its core brand expressions, supporting increased sales volume and a 1% increase in core contribution,” said Macallan.
Edrington CEO Scott McCroskie said: “Our performance this year reflects both the strength of our brands and a disciplined approach to execution in a challenging market.
“Whilst consumer demand at the very top end of our products remains subdued, the continued growth of our core ranges has enabled us to deliver a modest increase in core contribution.
“Our leading brand, The Macallan, has continued to perform strongly, gaining market share across a number of our key markets.
“With the company’s balance sheet strengthened by strong inventory management and materially reduced debt, Edrington is on a strong footing as it navigates a continually volatile environment.
“We will continue to pursue growth opportunities whilst maintaining discipline over costs and investing in our brands, our operations and sustainability. This will ensure that the business is well placed to perform strongly in the future.”
Brugal, Edrington’s premium rum continued to generate double-digit growth in its home market of the Dominican Republic. Brugal 1888 has risen to become the world’s #6 ultra-premium rum.
Edrington’s Europe, Middle East & Africa region grew core revenue, in addition to notable growth in China, Latin American and the Dominican Republic.
Edrington launched a wholly-owned distribution company in India, the world’s largest Scotch Whisky market by volume.
The company has continued to integrate its sherry-seasoned cask supply chain, which was established in a series of acquisitions between 2023 and 2025.
“Core revenue declined by 3% compared with the previous year, reflecting the lower demand for high-value prestige products, which was mitigated by strong performance in The Macallan core products, including double-digit growth in sales of The Macallan 12-year-old,” said the firm.
“Profit before tax for the financial year was 7% lower year on year, reflecting the absence of a one-off gain in the prior year from a sale of maturing stock, together with the impact of adverse currency rates.
“The proceeds of the sale of The Famous Grouse, alongside working capital savings, enabled a £425 million reduction in net debt.”
William Grant & Sons completed its acquisition of The Famous Grouse, Naked Malt and affiliated brands from Edrington subsidiary The 1887 Company in 2025. The deal was announced in September 2024.
Edrington is headquartered in Scotland and employs over 2,800 people in its wholly owned and joint venture companies, with over half employed outside the UK.
Edrington’s principal shareholder is The Robertson Trust, which has donated £421 million to charitable causes in Scotland since 1961.