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William Grant FY sales bolstered by core brands
Independent spirits group William Grant & Sons saw profit after tax increase by 12.6% to £250 million (US$326m) in 2017, boosted by Glenfiddich, Hendrick’s and The Balvenie.
The new £13 million Hendrick’s Gin Palace
In the year to 31 December 2017, William Grant & Sons’ turnover hit £1.19 billion (US$1.54bn).
Glenfiddich’s “strong growth” has been credited to the Scotch whisky brand “attracting the next generation of premium whisky drinkers” through new releases such as Winter Storm – the third expression in its Experimental Series.
The performance of Hendrick’s Gin was attributed to the brand’s “unusual positioning”.
Earlier this week, family-owned William Grant & Sons unveiled the £13m (US$17m) Hendrick’s Gin Palace, which will allow the brand to double its production capacity to two million cases annually.
The company said the investment demonstrates its “commitment to innovation and its global growth ambition”.
Simon Hunt, chief executive at William Grant & Sons, said: “Our strong 2017 performance is testimony to the hard work and talent of our dedicated team around the world.
“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 mind set, giving us a strong competitive platform for continued future growth.”