William Grant & Sons posts big rise in profit and sales
- Published
The distiller said Hendrick's Gin contributed to its strong financial performance last year
Family-owned distiller William Grant & Sons has reported a strong rise in sales and profits, following good performances from its core brands.
The firm's turnover climbed from just over 拢1bn in 2016 to almost 拢1.2bn last year, with pre-tax profits rising from 拢260.2m to 拢304m.
It attributed much of the growth to increased sales of its Glenfiddich, Hendrick's and The Balvenie brands.
Growth was largely recorded across North America, Asia and Europe.
Grant's said strong Glenfiddich sales could be attributed to the release of "high-profile expressions", including The Glenfiddich Experimental Series, Winter Storm.
Chief executive Simon Hunt said: "Since William Grant founded our company over 130 years ago, we have consistently invested in our people and in our brands for the long term.
"We continue to develop the business with an independent and pioneering mindset, giving us a strong competitive platform for continued future growth."
Last year, the North Lanarkshire-based distiller bought US firm Tuthilltown Spirits, maker of Hudson whiskey.
It was the Scottish firm's first move into America's booming craft distilling sector.
Earlier this week, Grant's announced the expansion of its Hendrick's Gin distillery in Girvan, South Ayrshire.
- Published18 April 2017
