Relatively closed on its own, slight sherry fruitiness on the nose but still very reserved.
In the mouth a bit fuller and more varied between sweet, sour and spicy impressions. The alcohol is very well integrated and not too strong. A lot of chocolate in the finish, through which the fruitiness of the nose slowly fights its way forward.
With water it becomes creamier and releases caramel, but in return it loses some of its fruitiness. In the mouth it becomes a bit rounder (and more boring), the finish gains in spice. I think I like it a little better without water.
Overall nice sherry cask strength for the tight budget. However, it does not feel like it can keep up with the competitors from Aberlour and Tamdhu.