Greek crisis hits Drambuie sales

New Drambuie bottle Latin America was Drambuie's biggest growth market over the past year

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Drambuie, the whisky liqueur company, has been hit hard by the economic crisis in Greece.

The Edinburgh firm's third largest export market last year saw consumption fall by almost a third and shipments to Greece were down by more than half.

Overall sales grew by 1% and, in common with other distillers, Drambuie has seen strong growth in exports to Latin America.

The company also turned around several years of decline in American sales.

There was a 4% increase in shipments to the US.

Sales in Northern and Eastern Europe rose by 13% and in Latin America by 18%.

The bad weather in the UK over the pre-Christmas period, which is critical for the company, meant that earlier gains were cancelled out.

Operating profits at the company were £2.81m - 2% ahead of last year's figure.

In the summer it was announced that Phil Parnell, the chief executive of the group had died after a short illness.

He was replaced by Michael Kennedy.

Commenting on the latest results, Mr Kennedy said: "I look forward to building on the great platform that Phil had put in place

"Our vision for the company remains unchanged. We are a highly-focused international brand marketing and distribution company with a clear strategy underpinned by world class distributor management and financial processes."

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