Potential for growth eyed up by distillery
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Turnover increased by more than £2 million for Tomatin Distillery in 2019.
The firm – which specialises in the production and sale of malt and blended Scotch whisky – also experienced a rise in pre-tax profit in the year ending December 31, 2019, compared to the previous 12 months.
The Tomatin single malt brand showed growth of seven per cent in 2019, accounting for a significant proportion of the company’s turnover.
A strategic report accompanying the firm’s latest accounts stated: “In the long term, the company will continue to utilise the opportunities created by the ever-growing demand for single malt whisky both in the UK and internationally.
“Travel retail has been identified as an area for potential growth and the company will seek to identify suitable distribution partners in this area.”
Turnover increased from £17,736,601 in 2018 to £19,780,504 in 2019. For the same period, pre-tax profit rose from £4,551,748 to £5,470,734.
The company has been monitoring Brexit, via the Scotch Whisky Association.
The report added: “The company will work closely with its sister company in France with regards to the distribution of its branded goods to EU customers.
“EU customers do not make up a significant portion of the revenue base and so it is not currently a major risk. Packaging changes have been actioned throughout the course of 2019 so that they are consistent with potential EU regulation amendments.”
The average number of employees increased from 60 in 2018 to 67 in 2019, while staff costs rose from £2,065,137 to £2,309,884.
The ultimate parent company is Takara Holdings Inc in Japan.