Raise a glass as Arran Distillery posts first profit
12 August-
Isle of Arran Distillery is set to post its first profit since it opened in 1995
-
The Lochranza-based whisky maker is set to make £50,000 this year, and is looking to expand
A community-owned Arran business is on track to make its first profit, with the news that the Arran Distillery will be in the black this year for the first time since being set up in 1995.
The Lochranza-based distillery lost up to £500,000 a year in the early stages of the operation falling to £137,000 in 2008, and the business was only £16,000 in the red last year on turnover of just over £2 million.
But this year the company is said to be on course for a £40,000 profit, boosted by the launch this week of its first 14-year-old malt whisky.
Profits on the whisky are significantly higher than on less mature spirits and the firm is believed to already have several millions of pounds worth of the spirit maturing.
Arran, headed by managing director Euan Mitchell, is now seeking more outside funds for the group, which is currently privately owned by more than 100 local investors.
You can read more on this story here on the Whisky News website.
Great news for a local business! Post your comments and have your say here on s1arran
Follow us on: