Trials in spirits sector hit maltings firm's revenues

WIDER challenges in the spirits sector led to a fall in revenues and profits at Northumberland firm Simpsons Malt.

- GRAEME WHITFIELD

The Berwick company has released accounts for 2024 in which turnover fell from £301.3m a year earlier to £264.1m.

Over the same period, operating profit came in at £15.2m, having been £20.5m previously.

The company said it had seen sales growth for plain and peated malt but it had had to contend with increased energy and other inflationary pressures, decreased whiskey exports and increased UK taxes.