Hi-Spirits buoyed by turnover rise

Hi-Spirits: performing well

Spirits company Hi-Spirits has posted operating profit of £168,986 in the year to 31 December 2010, with turn-over up £700,000 to £8.1m.

It represents the eighth consecutive year of growth, the company said, making it the sixth-biggest spirits distributor in the UK on-trade.

Hi-Spirits’ brands include Czech spirit Sebor Absinth and Italian brand Antica Sambuca.

In 2008 it secured a distribution deal with US spirits firm Sazerac to import its brands including Buffalo Trace Bourbon and Monte Alban Mezcal to the UK.

Hi-Spirits chairman Jeremy Hill said: “We’re proud to have recorded growth in turnover every year since the business was founded. With market conditions having become more challenging, it’s a tribute to everyone that our success story has continued. We’ve achieved growth by continuing to invest, expanding our sales force and marketing investment at a time when others have cut back.”

He added: “Our new partnership with United Spirits is another key milestone for our business.

“Royal Challenge Indian Whisky is India’s biggest selling premium whisky, with a 33% market share and sales of 1.2m cases
a year.

“There is a ready-made market among the Indian community, as well as the potential to introduce new consumers to one of the world’s great spirits.”