William Grant sales bolstered by core brandsBy Nicola Carruthers
Independent spirits group William Grant & Sons saw profit after tax soar to £222.1 million (about US$297m) in 2016, boosted by the performance of Hendrick’s Gin, Glenfiddich and The Balvenie.
The strong volume and value growth of core brands saw reported turnover increase to £1,061.7 million.
The company attributed Glenfiddich’s “strong” growth to the release of high-profile expressions including The Glenfiddich Experimental Series in 2016.
The performance of Hendrick’s Gin was attributed to its engagement with a “broader” audience.
In addition, Sailor Jerry rum, Monkey Shoulder, Drambuie and Tullamore Dew all performed well.
“Our growth continues to be driven by our talented team’s passion for building brands the right way for the long term,” said Simon Hunt, chief executive of William Grant & Sons.
“The consistent investment in our brands, in markets and in future proofing our operational infrastructure, provides a solid platform to continue our growth.”
Following the acquisition of Hudson Whiskey in 2010, William Grant & Sons bought the brand’s New York-based producer Tuthilltown Spirits for an undisclosed sum in April this year.