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Halewood Wines and Spirits sees FY profits double
Halewood Wines and Spirits has reported a 100% increase in net profits in the year ending 1 July 2017 and is planning further acquisitions.
Halewood Wine and Spirits’ portfolio includes Whitley Neill Gin
The owner of brands including Whitley Neill Gin, Liverpool Organic Gin, Pogues Irish Whiskey and Crabbie’s Alcoholic Ginger Beer saw profits grow to £3.9 million (US$5.3m) from £1.7m (US$2.3m) in 2016.
Halewood also confirmed it plans further acquisitions and will invest internally in its distilling and brewing capabilities to “enhance the premium craft spirits portfolio”.
The group attributed its steep sales growth to the new management team, with successful supermarket listings for its mid-priced and premium spirits around the world, as well as increased exports – with special emphasis on Asia, particularly in China and Thailand.
Halewood Wines and Spirits also paid note to recent acquisitions, including the City of London Distillery, which it said has “added strength” to the brand’s portfolio.
The company also added that results in South Africa “remain steady” in the face of political difficulties and the devaluation of the rand.
Stewart Hainsworth, group chief executive, said: “Halewood has delivered a second year of profit as the impact of the successful restructuring and change in corporate strategy delivers sustainable margin growth.
“We have seen particular success with our range of premium gins and Whitley Neill Gin is now the third largest premium gin by value in the grocers.”