Angus Dundee Distillers toasts record financial results
Angus Dundee Distillers has posted pre-tax profit of £31.3 million, marking a substantial increase of over 25% compared to the previous year, and turnover of £81.6m, reflecting growth of 14.9% or £10.6m.
The thriving performance comes in the wake of a report highlighting the significance of whisky to the UK’s economy. Whisky constitutes more than a quarter of the UK’s food and drink exports, contributing £7.1 billion. Angus Dundee Distillers plays a vital role in this sector, strengthening its position as a key player.
Despite potential challenges such as the cost-of-living crisis, conflicts in Ukraine and the Middle East, and the ongoing energy crisis, the company remains resilient. With cash reserves surpassing £107m.
The distillery is led by the sibling duo Tania and Aaran Hillman, who succeeded their father Terence. The company’s workforce has grown to 203 employees, up from 183 the previous year, underscoring its commitment to expansion and job creation.
The firm’s latest plans involve a venture into the Chinese market, with the construction of a multi-million-pound distillery project in the Thousand Island Lake area, a prominent tourist destination. The ambitious development spans over 20 acres, incorporating a cave maturation chamber, anticipated to be the world’s largest.