This represents a significant increase compared to the pro-rated profit of £5.5m in 2022. Turnover also rose by 16% to £148m and the company’s workforce has grown by 60% over the last five years, reaching 362 employees.

The company’s CEO, Colin Matthews, attributed this success to the growing strength of their brands, despite challenges in the global alcoholic beverage market, including a slowdown in key export markets like China.

Mr Matthews explained: “Whilst I am determined to continue to invest in our brands, our people and our infrastructure, there is no escaping the fact that global alcoholic beverage markets have become a lot tougher, with consumer spending under pressure (driven by higher rates of inflation and interest rates) coupled with supply chains de-stocking as the unpredictability that was a feature of the Covid pandemic has unwound. This started through the latter part of 2023 and has continued in 2024.

“I am confident that the qualities that we have built across the business and the tireless dedication of the Loch Lomond team will see us perform well both in the UK and internationally against this challenging backdrop this year.

“I hope that some of the better economic indicators that are being reported more recently mean that, as we move out of 2024 and into 2025, these headwinds might abate.”

Glen Scotia, one of three remaining distilleries in Campbeltown, has seen a surge in popularity, prompting Loch Lomond to explore expansion opportunities. The distillery recently released its oldest single malt to date, a 49-year-old expression.

Loch Lomond also plans investments in its Alexandria distillery, maturation site, and a new gin distillery and visitor centre, The Herald reports.

CEO Colin Matthews attributed the performance to brand strength and team effort, while acknowledging the tough global market with higher inflation and interest rates affecting consumer spending.

Glen Scotia continues to win international awards and plans to increase production capacity. Investment is also earmarked for the Loch Lomond distillery and maturation sites.