Whisky firm Glenglassaugh Distillery makes profit
A whisky distillery which was closed for more than two decades has made its first profit three years after re-opening.
The Glenglassaugh Distillery, near Portsoy in Aberdeenshire, has reported a turnover of £1m and a profit of £100,000 in 2011.
The company's fortunes have been boosted by strong sales overseas.
Glenglassaugh was opened in 1875 but mothballed in 1986 by its then owner the Edrington Group.
The distillery was bought by a group of private investors in 2008.
Just weeks ago the company launched the first bottling of its single malt Scotch whisky called Revival.
While it was maturing though, Glenglassaugh focused on selling a stock of around 500 casks of high quality spirit which had been acquired along with the distillery.
Glenglassaugh Distillery managing director, Stuart Nickerson, said: "It had been expected that it would take at least seven years and possibly as much as 10 years for Glenglassaugh to turn a profit."
He added: "There are two distinct areas which, we believe, have enabled this to happen. The first is the extent of overseas sales and the fact that we are selling into 25 different countries.
"The second key to our success has been to sell small casks - octaves - to both corporate and private customers. The barrels are filled with spirit and are left to mature for up to seven years.
"Customers range from international whisky clubs to brides looking for a special wedding present for their husband-to-be."