Teeling Whiskey Increases Pretax Profits By 56% Last Year
Published on Sep 9 2019 12:50 PM
Teeling Whiskey has increased its pre-tax profits by 56% last year as the Dublin-based company sold 900,000 bottles last year.
As reported by the Irish Times, Teeling Whiskey Company made a pretax profit of €1.01 million in 2018.
Turnover at the spirit-maker rose by 5% to €15.6 million, with €13.6 million coming from the sale of goods.
Turnover declined in Ireland, however, by 5% to €4.8 million.
The company’s directors said that they had prepared 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,” co-majority owner Jack Teeling said.
“We are hoping for over one million now for this year, which would be nice.”
Looking forward, Teeling said that the company’s biggest challenge is its European supply chain, especially after Brexit.
“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 Checkout – your source for the latest Irish retail news. Article by Aidan O’Sullivan. Click sign-up to subscribe to Checkout.