Profit at The Macallan whisky owner slashed as sales slide
Profit at Edrington, the owner of whisky label The Macallan, slumped by more than a quarter during its latest financial year as its sales slid, new figures have revealed.
The Glasgow-headquartered group, whose brands also include Highland Park and Glenrothes, has posted a pre-tax profit of £274.4m for the year to 31 March, 2025.
The latest total of 26 per cent down on what Edrington posted for its prior 12 months.
New figures have also revealed that the group’s revenue declined by 10 per cent to £912m in the year.
In a statement, The Macallan owner said its fall in sales was “broadly consistent across international markets, with exceptions including a resilient performance by Brugal rum in the Dominican Republic and The Macallan in South Korea and Japan”.
Edrington agreed to sell The Famous Grouse to William Grant & Sons in September last year for an undisclosed sum.
The deal was eventually approved by the Competition and Markets Authority in March and completed on 1 July.
William Grant & Sons is owned by Scottish billionaire Glenn Gordon and produces whisky including The Balvenie, Glenfiddich as well as Hendrick’s gin.
The Macallan owner feels ‘full effect of the global economic downturn’
Edrington chief executive Scott McCroskie said: “After several years of unprecedented growth for premium spirits and industry-leading results posted by Edrington, the business felt the full effect of the global economic downturn during the year.
“Our focus on ultra-premium spirits has driven Edrington’s growth in recent years and we have continued to execute our strategy despite the hostile trading environment.
“This includes further strategic investments in our sherry cask supply chain and in reducing our carbon footprint.
“On 1 July, 2025, we completed the sale of The Famous Grouse and Naked Malt brands to William Grant & Sons.
“This reflects our choice to focus on the premium end of the market, where we are best placed to compete.
“Looking ahead, the political and economic backdrop remains volatile, which we expect will continue to weigh on consumer sentiment in the coming year.
“We believe top-line growth will be difficult to come by in this environment, although adjustments to overheads and brand investment are expected to align net sales and core contribution more closely next year.
“Edrington’s strategic focus on ultra-premium spirits remains effective.
“We will continue to execute it to strengthen our brands and our business for the long-term benefit of our investors, our employees, and those who benefit from our own and our principal shareholder’s charitable activities.”
Glengoyne whisky distiller suffers largest decline ‘in decades’
The results come after CityAM reported last month that profit at the group behind spirts such as Glengoyne whisky and Edinburgh Gin has been slashed in half as it suffered the largest decline “in decades”.
Edinburgh-headquartered Ian McLeod Distillers posted a pre-tax profit of £15.6m for the year to 30 September, 2024.
The latest total came after the business achieved a pre-tax profit of £33.8m in the prior 12 months.
Accounts filed with Companies House also showed its group turnover was cut from £160.5m to £128.2m.
Along with Glengoyne, Ian McLeod Distillers’ brands also include Rosebank, Smokehead, Tamdhu, Sheep Dip, London Hill, Pig’s Nose, Mash Cut, Raffles, Isle of Skye and Macleod’s.