It was good news for Jameson this week when the company announced the global sales of the Irish whiskey grew by 12 percent in value in the past year.

The Irish governments 20 percent cut in excise taxes were a major cause of the rise in global sales. The company also announced a 4 percent rise in operating profit.

Jameson is owned by Pernod Ricard, the world’s second largest spirits group after Diageo.

Speaking about the results, chief executive Pierre Pringuet said, "Our performance over the 2009-10 financial year was a strong and sound one, our priorities for the 2010-11 financial year remain the development of our premium strategic brands, a continuing strong marketing investment level, and the reduction in group debt.”

The Jameson brand was acquired by the French spirits giant in 1998 after it bought Irish distillers.

Irish Distillers chief executive, Alexandre Ricard, said Jameson remains on course to become one of the world’s elite spirits brands in the next 10 years. "The figures speak for themselves. Jameson sold 466,000 cases in 1988, when Irish Distillers joined Pernod Ricard.

"In 1996, the one million case milestone was achieved. Ten years later in 2006, sales doubled to two million cases. The next milestone for Jameson is to sell three million cases, which will be achieved in the coming months – in addition to the achievement of selling one million cases in the US."

The single malt Irish whiskey was established in 1780 by a Scottish man called John Jameson. The whiskey is distilled in Cork and vatting takes place in Dublin.

Jameson will soon face competition from a new Irish whiskey.