Broxburn spirits firm toasts profits rise
One of the largest independent family companies in the UK spirits industry is toasting a 90% increase in profits.
Broxburn-based Ian Macleod Distillers said profits after tax reached £2.2m in the latest financial year as a result of increased volume and margin.
Turnover soared 18% to £26m thanks to increased sales to export markets, especially in the Middle and Far East.
Its products include Glengoyne as well as gin, rum and vodka.
In 2009, Ian Macleod Distillers moved into the Scandinavian market by taking a 34% share in Norwegian spirits distribution company, Cask Owners AS.
Managing director, Leonard Russell, said the move had been a "natural progression" for the company.
He added: "We started life as whisky brokers, moving into bottling and distributing in the UK, then took a major step with the purchase of Glengoyne Distillery in 2003 to become a single malt distiller.
"We are continuing the evolution of the company by extending its capability and reach into export markets."
The company, which was founded in 1933, now produces and sells more than 15m bottles of spirits a year. It employs 185 staff at three different sites across Scotland.