The company behind Welsh whisky, Penderyn distillery has reported increased turnover and pre-tax profits in its latest year with the trend of annual growth continuing.
In the year to 31 August 2023, turnover at The Welsh Whisky Company, which is behind Penderyn Distillery, rose to £23.1m from £19.7m the previous year.
The business also recorded a pre-tax profit of £1.46m, up from £1.44m the prior period.
During the year, the company opened its third distillery and visitors centre in Swansea in June 2023, following the second at Llandudno in May 2021.
The firms first location and HQ in Penderyn, Rhondda Cynon Taf, in the Cynon Valley, is from which the brand takes its name and the water source for its single malt whiskies and spirits products comes from The Brecon Beacons National Park, thus cementing its position as an authentic Welsh product.
Incidentally, the Welsh Whisky Company, the trading company behind the Penderyn Distillery, said that Penderyn is Wales’ first whisky distillery in over 100 years.
Writing in a strategic report accompanying the results filed with Companies House, the business said that given the challenges the company faced operating in a economy with “significant” rising input costs, market recovering from the effects of the Covid pandemic, and rising interest rates, the financial result achieved was “pleasing”.
Looking ahead, it noted the support of the company’s funders will enable the investment in building maturing whisky stock to continue. The maturation process is typically where much of a distilleries future value and cashflow can be tied up and requires significant resources to fund.
The report added the company’s commitment to innovation in whisky maturation and blending and branding will enable “exciting” new products to be developed and launched.
Award Winning Welsh Whisky
Penderyn Distillery has won several awards for its whisky. The Penderyn Single Malt Whisky has been awarded two Gold Spirit Business World Masters Masters awards, one for its Peated and one for its Portwood finish. Penderyn Single Malt Whisky was also a runner up in the Ultimate Spirits Challenge, scoring 94/100 for its Madeira finish and 92/100 for the Rich Oak finish.
