Edrington profits tumble as The Macallan faces global sales slowdown

Edrington’s just dropped their annual results and it’s not pretty reading, I’m afraid. The Glasgow giant behind The Macallan, Highland Park, and Glenrothes has taken a proper hit – pre-tax profits down 26% to £274.4 million, with revenues falling 10% to £912 million for the year ending March 2025.

Now, this isn’t entirely surprising given what we’ve all been watching unfold globally. Scott McCroskie, their CEO, isn’t mincing words about feeling “the full effect of the global economic downturn.” Consumer sentiment has been brutal across most international markets, and even the premium end where Edrington plays hasn’t been immune.

That said, there are some interesting bright spots worth noting. Brugal rum is still flying in the Dominican Republic, and The Macallan continues to show real resilience in South Korea and Japan – which tells you something about those markets’ appetite for premium single malt even when times are tough.

What’s particularly telling is their strategic pivot. They’ve just offloaded The Famous Grouse and Naked Malt to William Grant & Sons in July, doubling down on their ultra-premium focus. It’s a clear signal they’re betting the farm on the top-shelf stuff where margins are better, even if volumes might be squeezed.

Looking forward, McCroskie’s being refreshingly honest – they’re expecting this volatile political and economic mess to continue weighing on consumer sentiment. They’re planning to trim overheads and adjust brand investments accordingly, though they’re still committed to their sherry cask investments and sustainability initiatives.

The broader picture isn’t encouraging either. Ian Macleod Distillers recently reported their worst profit decline in decades, so Edrington’s pain is clearly part of a wider industry trend. Even the most established names are feeling the pinch as these global headwinds reshape the entire premium spirits landscape.