Spirits group Edrington suffer after failing to sell Brugal rum
SCOTTISH spirits group Edrington was nursing a financial hangover after its Brugal rum brand failed to hit the spot in key markets.
The rum sales have not been doing well enough
It posted a £157.6million annual pre-tax profit, but an impairment charge against Brugal sent the firm £52.7million into the red on turnover of £617.7million, despite its whisky portfolio, which includes The Macallan, performing ahead of the market.
Edrington, which cited “subdued” demand for Brugal in Spain and the Dominican Republic, said its focus would be on the increasingly important premium market.