Teeling Whiskey's Pre-tax Profits Increase 56%
Teeling Whiskey's its pre-tax profits increased by 56% last year to €1.01 million.
As reported by The Irish Times, the Dublin-based whiskey maker sold approximately 900,000 bottles last year.
Teeling's turnover increased by 5% to €15.6 million, with €13.6 million coming from the sale of goods, and €1.9 million coming from the rendering of services.
Its turnover from Irish operations decreased by 5% to €4.8 million.
Speaking to The Irish Times, co-majority owner Jack Teeling said that the group had anticipated and planned for faster growth.
"We were hoping growth on the revenue side would be a little bit faster but it was a little bit slower in one or two key markets. But we're going in the right direction," he said. "We are hoping for over one million now for this year, which would be nice."
With regard to Brexit and future operations, Teeling said that it will greatly affect its European supply chain.
"The biggest challenge for us is our European supply chain. Most of our whiskey [for the continent] goes through the UK," he explained. "How long is it going to take in a no-deal Brexit? Who knows? But we're not the only ones in that boat."
© 2019 Hospitality Ireland – your source for the latest industry news. Article by Aidan O'Sullivan. Click subscribe to sign up for the Hospitality Ireland print edition.