FDBusiness.com

Helped by the acquisition of Greencore’s bottled water business in March 2010, Highland Spring increased turnover by 26% to £69.3 million and operating profit by 6% to £4.6 million for 2010. However, Highland Spring’s net profit for 2010 dropped 34% to £2.7 million.

Based at Blackford, Perthsire in Scotland and owned by the Dubai-based Al Tajir family, Highland Spring is one of the UK’s largest bottled water companies, producing more than 350 million litres annually.

“We were delighted to achieve such a significant increase in turnover and given the current economic climate and the impact of exceptional increases in packaging, energy and fuel, we were equally pleased to achieve an increase in profits,” says Les Montgomery, chief executive of Highland Spring. “As bottled water specialists we embarked on a strategic programme to increase our scale within the market substantially to help us fulfill our vision to be a £100m turnover and 500 million litre business. Our 2010 results demonstrate that the strategy is paying off as we record our strongest ever financial performance.”

Highland Spring was able to retain its number two position in the UK still water market in 2010, behind Evian, and its sparkling range increased sales by 7.8% to maintain its leadership position. Turnover is expected to exceed £80 million in the current year.