Wemyss sees growth despite disruption

THE Wemyss Development Company, the historic family business with interests in property, agriculture, spirits, wine and renewables, has seen profits jump by 28% - in spite of unrest in the Middle East disrupting its tea operation in Kenya.

Wemyss, which is on track to open its first distillery, at Kingsbarns in Fife, by the late autumn, booked pre-tax profits of £8.44 million for year to March 31, 2013.

A surge in turnover to £31.7m from £27.3m the year before included a sales rise to £23.3m in Africa, up from £19.7m in 2012. This came in spite of tea prices being depressed by drought in Sudan, political strife in the Middle East and a foreign exchange crisis in Pakistan.

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Wemyss, which entered the whisky blending marketin 2005, said it had invested in stocks for its vintage malts over the year. The directors also revealed it has staged talks with "various parties" over investing in bonded warehouses.

The company took over the £3m Kingsbarns distillery project from founder Doug Clement last year after the golf caddy secured a £670,000 grant from the Scottish Government. Work on the project started in May with a spokeswoman stating that Wemyss hopes its interior, including a visitor centre and cafe, will be completed over the summer.

The company, which is developing the project through subsidiary Wemyss Distillery Limited, is due to take delivery of the stills in September, following a two-year waiting list.

The delay reflects the level of demand from distillers looking to expand production to meet growing interest in