Overseas markets aid distillery's fortunes
WHISKY maker Tomatin Distillery has seen its turnover increase by almost a quarter during the company’s most recent financial year.
In the latest results released last week – which covers the period from December 31, 2016 to December 31, 2017 – turnover grew by 24.6 per cent year-on-year.
The firm’s pre-tax profit also increased for the same period – rising by 14 per cent.
It comes at a time when the business is keeping an eye on developments with Brexit via the Scotch Whisky Association.
A strategic report accompanying the firm’s latest accounts stated: "The company’s focus is on control of costs, cash and stock and a continued step away from reliance on low-margin activities.
"It continues to monitor the Brexit position through its trade organisation, [the] Scotch Whisky Association, with the main risk being the uncertainty in transport costs with foreign customers.
"Such customers do not make up a significant portion of the revenue base and so is not currently a major risk."
Last year’s turnover was £18,085,840, up from £14,507,999 in the previous year.
At the same time, pre-tax profit moved from £3,534,870 in 2016 to £4,030,422 in 2017.
In further good news, the company revealed that the turnover for the distillery’s visitor centre has surpassed the £1 million mark for the first time since opening.
Having grown in line with the brand, the visitor centre has become an important revenue stream for the business.
Stephen Bremner, who recently took up the position of managing director following more than a decade as sales director, said: "This is a very exciting time for Tomatin.
"In the past few years, we have gained a solid foothold in the international whisky market, particularly with our branded products."
Particularly buoyant markets for Tomatin include, the UK, US and Germany, where the company reported its strongest sales. "Following a couple of years of decline, the whisky market is back on its feet and Tomatin is steadily seducing the new wave of whisky drinkers – not just on Scottish soil, but globally," Mr Bremner added.
One of the largest distillers in the Highlands, staff costs increased from £1,984,830 in 2016 to £2,043,215 last year, with the average number of employees rising from 55 in 2016 to 56 in 2017.
It is also committed to continuing to explore solutions for reducing its carbon footprint as new and relevant ideas are presented.
Earlier this year, some of the firm’s products won awards at the San Francisco World Spirit Competition.
The firm’s ultimate parent company is Japan-based Takara Holdings Inc.
