Greek crisis hits Drambuie sales

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

Related Stories

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."

More on This Story

Related Stories

The BBC is not responsible for the content of external Internet sites

More Scotland business stories



  • Lucy FranklinDouble trouble

    'Rising house prices left me high and dry - twice!'

  • NS Savannah, 1962Nuclear dream

    The ship that totally failed to change the world

  • Ed Miliband takes a selfie at a Cambridge hairdressersNo more photo ops?

    Why is Ed Miliband drawing attention to his public image?

  • Espresso cup7 days quiz

    Which city serves the strongest cup of coffee?

  • Glasgow 2014 quaichs and medalsQuaich guide

    What do the Scottish gifts given to Games medallists symbolise?

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.