Maltster witnessing strong demand from whisky and beer trade

Bottom line squeezed as exports fall in ‘volatile’ market.

Bairds Malt profits fell last year despite a boost to sales from the burgeoning craft brewing and distilling sectors.

The Essex-based group operates a major malting site at Elliott Industrial Estate in Arbroath.

New accounts lodged at Companies House show the company – part of the wider GrainCorp group – generated sales of £189.7 million in the year to September 30, down from £205.4m a year earlier.

Pre-tax profits came in at £3.55m, down from £5.17m a year earlier.

Bairds’ Arbroath site was originally completed in 1970 and added to in 1980.

The group installed a new state-ofthe-art malting plant at the site in 2010.

The company’s central laboratory function is also based at Arbroath.

It carries out malt analysis for all of the group’s sites across the UK

In his strategic report, chief financial officer Brett Weimann said the company had seen a lowering in export volumes in the year and competitive pressure on price.

However, he said the craft brewing sector was continuing to grow and there was also increased sales to whisky producers as demand for Scotland’s national tipple remained strong.

The firm expects craft demand to help it maintain its brewing volumes in the current financial year, and said output to the whisky sector was also likely to be in line with 2016.

The company said its merchanting division both in England and Scotland had delivered a “solid performance” in 2016, with profits and volumes in line with expectations.

Mr Weimann noted there had been a “great deal of corporate activity in the Scottish market into which the company supplies”, which he said could have an effect on the company.

Overall, however, he said the group was in good shape.

“The directors consider the company to be well positioned to address the continued volatility with respect to commodity prices experienced in their market and are confident that, given the current funding, the company is well positioned to develop opportunities in both the brewing and distilling sectors,” he said.

The directors consider the company to be well positioned.

BRETT WEIMANN CFO OF BAIRDS MALT

Picture: Paul Smith. The Bairds Malt site at Arbroath. Chief financial officer Brett Weimann said the firm had seen a lowering in export volumes in the year and competitive pressure on price. However, it was well positioned to develop opportunities in the brewing and...