Operating profits up at Dillon’s

Edward Dillon & Company enjoyed a 54% boost in operating profits to €974,000 in the year to 30th September 2014 even though turnover was down 15.5% to €57.8 million.

The company appears to have emerged from a considerable period of restructuring and many of the exceptional costs associated with this are no longer present.

Dillon’s also disposed of most of its wine portfolio in order to concentrate on shareholder premium and superpremium brands which enjoy considerably higher margins.

With the spirits market down around 8% in the off-trade, the on-trade seems to be taking up the slack. Nevertheless,  spirits companies such as this are not out of the woods quite yet.