Bushmills Experienced Declines In Sales And Bottom-Line Profit Last Year
Bushmills experienced a decline in sales last year from £43.7 million to £31.8 million while its bottom-line profit declined from £7.2 million to £4.9 million, according to the whiskey maker's annual accounts.
As reported by The Irish News, £130 million worth of whiskey is currently maturing in casks in the new warehousing units at the Old Bushmills Distillery, the company's annual accounts have revealed, and while the company's overall trading performance took a hit during the 2020 calendar year, its current stock levels continued to rise.
"A Good Level Of Performance In Its Major Markets"
The company, which is owned by Mexican drinks firm Becle, reportedly said that it "demonstrated a good level of performance in its major markets" despite the impact of the COVID-19 pandemic.
Development, Expansion And Growth Plans
The company's directors reportedly said that it is their intention to continue to develop the present activities of Bushmills by expanding into new markets and growing its brand portfolio.
Irish Distillers Bottling Contract Terminated
The accounts reportedly reveal that during the financial year the directors were informed that the company's long-standing bottling contract with Irish Distillers Limited would be terminating in June 2022.
"The Opportunity To Bottle Other Group Products"
The directors reportedly said, "The additional capacity will provide the opportunity to bottle other group products."
Current Stock Value And Maturation Timeline
The accounts reportedly show that the company's current stock levels sit at £129.7 million, up from £118.8 million a year earlier, with £102 million of said stick reportedly being whiskey maturing in more than a year. In some cases, it reportedly might be decades down the line before its release.
Staff, Royalties Income And Government Grants
The accounts reportedly also reveal that Bushmills, which reportedly has 101 employees, 67 of which are reportedly production staff, eight of which are reportedly sales staff and 28 of which are reportedly administration staff, benefited from £1,446,000 in royalties income during the year and £208,000 in government grants.
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