Dillon’s pre-tax profits fall
Pre-tax profits at Edward Dillon & Co fell 8% in the year to the 30th September 2018 from €1.14 million to €1.05 million on a turnover up by 1.6% to €60.1 million from €59.1 million according to the Directors Report and Financial Statements.
27 May 2019 | 0
Income from warehousing and handling also fell from €217,000 to €212,000.
The company enjoyed a slight rise in Operating Profits from €1.04 million to €1.07 million while the number of staff rose by five to 39 as payroll costs jumped 25% from €2.5 million to €3.1 million with the hiring of four new ‘Brand Activators’ and a Brand Ambassador during the year.
The company appears to have had a good year despite the pre-tax profits decline however with Operating Profits marginally up as Dillon’s continues to try and push up value with its premium products all understood to be enjoying double-digit growth.
Its Hennessy XO & VSOP, Grey Goose and Belvedere brands are all also understood to be doing well as are its Champagnes – Veuve Cliquot in particular.
With the return to growth in the economy people are going out to treat themselves and premium products such as these are there to make sure that this can be done.
And in these years of booming gin sales Dillon’s Bombay Sapphire brand is understood to have had a particularly good year, being considered a premium gin too.
Drinks Industry Ireland understands that Dillon’s thus believes itself to be in a good position to hire more staff and so it took on the Brand Activation Managers to make sure that the company remains relevant to the on-trade.
It also hired a Brand Ambassador for Slane Irish Whiskey during the year to add to the other Brand Ambassadors it has for Bacardi and Hennessy which drove the rise in salary and overheads.