Teeling Whiskey Toast Big Year With Huge Rise In Profits
Teeling Whiskey has enjoyed an excellent year as pre-tax profits at the company have seen a rise of 75 per cent to €2.95 million.
The newly filed accounts show that the company saw its revenues increase from €6.9 to €24.58 million, with employee numbers rose from 15 to 24 and had staff costs totalling €1 million, reports the Irish Independent.
After spending €10 million on a distillery and visitor centre in The Liberties, which only opened in June last year, the company has welcomed over 60,000 visitors at the distillery, has won numerous awards and currently exports its whiskey to over 40 countries.
Currently, Ireland's whiskey industry is undergoing a renaissance, with Irish whiskey exports up by 60 per cent since 2009 and direct employment in the area is expected to grow up to 30 per cent by 2025.
The directors report stated that "throughout 2015, the company has developed its own production plant and visitor centre in central Dublin to coincide with its brand development plan for its premium whiskey brand".
It added that while the distillery will act as a home for the Teeling Whiskey brand, it will also provide pot-still manufacturing of Irish whiskey for its other brands. The directors report concluded that they "are satisfied with the production to date".