Chivas Brothers posts strong annual results
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Chivas Brothers has revealed strong annual results with total sales up six per cent globally.
The impact of the pandemic has also been offset by double-digit performance in domestic regions across the whisky maker’s four strategic brands: Chivas +13%, Ballantine’s +12%, The Glenlivet +26% and Royal Salute +32%.
Sales were particularly strong in Asian markets where lockdown restrictions have been lifted or eased.
China, Taiwan Market, and South Korea registered growth of +47%, +20%, and +46% respectively.
As in recent years, strong performances were also recorded in the Eastern European and Latin American markets.
Poland and Russia grew +19% and +17% respectively, while Brazil rise of +60% put it beyond pre-Covid levels.
Jean-Etienne Gourgues, the company's new chairman and CEO who joined in July, said: "It’s clear from these results that we are making a steady return to our pre-Covid momentum, already exceeding this in domestic markets.
"The breadth of our portfolio is our greatest asset, and we have continued to invest in innovation and creative campaigns despite the challenging year.
"The suspension of US tariffs on Single Malt Scotch will certainly boost the industry’s recovery.
"However we maintain that a cut in spirits duty should be included in the next UK Budget, and Scotch should be prioritised in ongoing trade negotiations – with a particular focus on reducing the 150% tariff on Scotch exports to India."
Mr Gourgues also detailed ambitions to achieve net-zero distillation by 2026.
To help achieve this the company will use high-efficiency mechanical vapour recompression fan technology for pot still distillation.
