Pre-tax profits at the maker of Drumshanbo Gunpowder Irish Gin declined by 25% last year. Accounts filed by PJ Rigney Distillery and International Brands Ltd show that the company recorded the drop in profits as revenues declined by 6% in the 12 months to the end of September last year. The Shed Distillery in Drumshanbo is a major local employer and is one of the most popular tourist attractions in the Shannonside region. They currently employ around 100 people and produces gin, whiskey and vodka. Pre-tax profits declined by 25% last year to €2.8m whilst revenues declined by 6% from €18.37m to €17.27m in the 12 months to the end of last September.
The US market accounts for 35% of the Co. Leitrim firm's sales and the company in the current year is dealing with the impact of the proposed 'Trump tariffs' as negotiations continue between the US and EU. On the 2024 performance, the directors for the firm state that "the company performed strongly during the year despite the economic headwinds, inflationary pressures, conflict in Ukraine, the Middle East and elsewhere". They added that "their brands outperformed the general drinks market on the back of substantial increased investments in innovation and brand communications." The directors stated that the Shed Distillery 'Experience' had its first full financial year in the 2024 and that the company is confident that this "will continue to be an operational success". On the company's future developments, the directors state that "the company will continue to develop its brands and drive growth in new and existing markets".
