More jobs likely as Glenmorangie continues to grow
MORE jobs could be created by The Glenmorangie Company as it targets growth after recording a profit spike of more than 20 per cent.
The premium branded single malt Scotch whisky company, is determined to increase volume and profit of its brands Glenmorangie, which is made in Tain, and Islay-produced Ardbeg.
Plans include investing in marketing support for the brands and taking advantage of the global distribution network of parent company Louis Vuitton Moet Hennessy, based in France.
"Our vision is to build strong brand presence for our highly renowned, premium single malt whisky brands, Glenmorangie and Ardbeg, in international markets where there is significant growth opportunities for premium whiskies," states company secretary Martha Fleming in a directors’ report, accompanying the latest annual report and financial statements lodged with Companies House.
She said it would be achieved through product innovation and excellence, with the group’s absolute focus on brand development and increasing market share, adding: "The group is confident in this strategy going forward and will continue to support the development of its brands with the resultant positive impacts on increases in production and employment in its operations."
Accounts to year ending 31st December 2012 showed the average number of employees rose last year compared to the previous 12 months.
More workers in production, administration, sales and marketing may have contributed to increased volume and profit growth delivered by Glenmorangie and Ardbeg, with figures showing pre-tax profit grew 21.14 per cent from £10.816 million to £13.103 million.
Turnover increased by 10.67 per cent from £59.8 million to £66.2 million, while operating profit rose by 14.64 per cent from £12.5 million to £14.3 million.
"Both brands introduced limited edition whiskies that delighted connoisseurs and drove significant levels of awareness amongst the wider spirits audience," Ms Fleming states.
"Brand positioning and consumer engagement were at the heart of the business growth strategy for 2012 as the group continued to increase advertising and promotional investment to support the accelerated growth of its brands in existing and emerging international markets where there is increasing demand for premium single malt whisky."
The Glenmorangie Company was very encouraged by the strong performance last year, when its principal activities comprised of distillation, warehousing, bottling, marketing and sales of single malt Scotch whisky.
The average number of employees increased by 8.08 per cent from 198 to 214. This saw wages and salaries rise from £8.8 million to £9.4 million, with the total employee costs for 2012 booked at £10.882 million, up 7.77 per cent on the £10.097 million in 2011.
Meanwhile, directors’ remuneration dropped from £2.509 million to £987,000, largely due to the previous year’s accounts including a £1.298 million directors termination payment. The highest paid director had rewards of £406,000, comprising of salary, performance-related pay and benefits such as a company car and private health insurance.
