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Scotch & Soda in the red despite highest turnover yet

Scotch & Soda made a loss of €5.4m (£4.7m) in its 2016/17 financial year, despite its revenue jumping by 3%.

It reported a total turnover of €335.6m (£297.1m), an all-time high for the company, for the year to 31 May, as retail revenues rose by 22.1% to €90.7m (£80.3m) and online sales were up by 7.3% to €41.1m (£36.4m).

Decline in wholesale revenues slowed down, achieving €203.7m (£180.4m), compared to €213.3m (£189m) last year.

Scotch & Soda attributed the €14.9m (£13.2m) loss to one-off items for process improvements, restructuring costs and consultancy fees.

The company made a profit of €1.1m (£960,000) the previous year.

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