How do you secure your cashflow when starting a new business? Everyone knows you have to spend money to make money, but at what point does the money made outstrip the money spent? It is a question all businesses have to answer in their journey to success. I don’t have the answer I’m afraid, but it was a question that I got to ponder reading this news over the week.
Hinch, one of the largest new distilleries in Ireland, has posted an operating loss for the third year in a row. This could be for any number of reasons. Labour costs have increased, as has the price of energy. Raw material prices are higher, not only grains, but also casks, and water. Furthermore the habits of consumers have changed, people are going out less, drinking less and shifting their focus to either end of the drinks pricing spectrum.
Despite this hardship, the value of their stock of maturing casks has been increasing by a staggering £2 million each year for the past two years. This stock is believed to be a mix of their own spirit and a selection of sourced whiskey from other Irish distilleries.
This really highlights how secure casks of whisky can be against external economic factors, as well as showcasing the value that it is possible to achieve with a large portfolio of whiskey casks.
To start or grow your own portfolio of Irish whiskey casks book an appointment with one of our account managers.
To read the full original article: https://www.irishnews.com/news/business/hinch-distillery-posts-2m-operating-loss-for-2023-but-the-value-of-its-whiskey-stock-continues-to-grow-year-on-year-3BNFJGBR6JAKPMNNTCMDI6B4N4/
