Sales up nearly 6% to £116.8m on rise in exports to emerging markets
Whisky distiller John Dewar and Sons has posted another year of bumper profits, up more than 26 per cent on the previous year to £30.2 million.
Sales rose nearly six per cent in the year to March 31, 2012, to £116.8 million against £110.4 million the previous year.
The Aberfeldy-based distiller reported a nine per cent rise in profits last year to £23.8 million.
Net assets, including pension deficit, rose to £120 million in the financial year against £108.8 million reported the previous year.
The book value of whisky held in stock dropped slightly on the previous year to £229.9 million.
The company has proposed a dividend of £9 million, a rise of £1 million on the previous year's dividend.
In accounts filed with Companies House, the company said: “Continued growth in emerging markets has had a positive impact on results.
“Forecasts indicate that this trend is likely to continue in future years, and further capital investments are planned to support this growth.”
John Dewar and Sons, a subsidiary of Bermuda-based Bacardi Ltd, added 45 staff in the financial year, all on the production and distribution side of the business.
The annual accounts also show the company received a £250,000 government grant in March 2012 related to “specific capital expenditure”.