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Another Successful Year For Irish Distillers Pernod Ricard

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Another Successful Year For Irish Distillers Pernod Ricard

Another Successful Year For Irish Distillers Pernod Ricard
August 31
09:06 2015

Irish Distillers Pernod Ricard has reported another successful year internationally and continues to lead a growing resurgence in Irish whiskey through its iconic Jameson brand and its growing portfolio of premium Single Pot Still Irish whiskeys. Jameson achieved its twenty-sixth year of consecutive growth. Volume was up by 8.5% for the year and value growth was an impressive 10.2%. Consistent value growth ahead of volume remains a key objective for Jameson. Of the 130 plus markets in which Jameson is sold around the world, 53 achieved double- to triple-digit growth in the 2014/15 financial year.

Irish Distillers has recently invested over €200 million doubling production capacity in its Midleton Distillery in Cork and Fox & Geese bottling facility in Dublin, and expects to have to double capacity again in the coming years to meet global demand for its products.

For the twelve months ending June 2015, the total spirits market in Ireland declined by 3.2%, driven by a 5.2% decline in the off-trade. For the first time in a number of years, spirits sold in the on-trade increased by 1.4%, following a massive 6% decline last year. This small growth is largely driven by a strong tourist trade. However, spirits in Ireland continue to be subject to the third highest excise duties in Europe following 44% increase in excise rates on spirits since 2013.

Anna Malmhake (pictured), chairman and chief executive of Irish Distillers Pernod Ricard, comments: “As one of Ireland’s thriving exports, Jameson is playing a key role in the export led recovery of the Irish economy as we continue to embrace this progress by honouring our heritage while also delivering new and innovative expressions of Irish whiskey. However in stark contrast to this growth and optimism for our export markets, the outlook for our industry here in Ireland is extremely concerning. The penal excise increases on alcohol accumulated since 2013 endanger the export success of indigenous products such as Irish whiskey as well as the 92,000 jobs being supported by the drinks industry in every county throughout Ireland.”

She continues: “In fact Ireland is one of the most expensive places in the world to buy Irish whiskey. A tourist visiting from New York has to pay almost €15 more when purchasing a bottle in Ireland than in New York. We regularly receive queries from visitors wondering why it’s so expensive to buy Jameson here. One has to ask, how sustainable is the current international growth of Irish whiskey without a solid local market in which to support home grown brands as well as new market entrants.”

Anna Malmhake concludes: “A reduction in excise would give welcome relief to both hard working Irish consumers and the tourist trade visiting our country while also stimulating the growth of an industry which has huge opportunity for job creation.”

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