The owner of three north-east distilleries, GlenDronach, BenRiach and Glenglassaugh, saw profits tumble as a result of one-off costs linked to their purchase.
BenRiach Distillery Company (BDC), which is itself owned by US drink giant Brown-Forman, reported pre-tax profits of just under £6million for the 16 months to April 30, following a change of the financial reporting period to match the parent’s. Pre-tax profits for the previous 12 months had totalled £10.68million.
Turnover for the latest 16-month period came in at £45.11million, up from nearly £41million in the 2015 calendar year.
Scotch whisky entrepreneur Billy Walker and his family pocketed as much as £95million following the sale of a 90% stake in BDC to Brown-Forman in a deal worth £285million during the first half of 2016. Kentucky-based Brown-Forman later acquired the other 10%.
The sale included The GlenDronach, BenRiach and Glenglassaugh single malts, a bottling plant and HQ in Edinburgh. A report in the accounts, signed by BDC director Edward Mayrose, said: “Turnover was somewhat impacted by the change in ownership.” Profits were hit by “one-time” expenses, he added.
