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William Grant reports double-digit revenue growth
Hendrick’s Gin maker William Grant & Sons has reported revenue growth of 11.6% for 2018, driven by “healthy” value and volume sales of its core brands.
Last year saw William Grant & Sons open the Hendrick’s Gin Palace
The Scottish group’s turnover hit £1.325 billion (US$1.631bn) in the year, while profit after tax increased at the lower rate of 4% to £260 million (US$320m) following a raft of “significant investments”.
In 2018, William Grant & Sons opened its new distillery and ‘gin palace’ for Hendrick’s; relaunched the Grant’s blended Scotch range; and opened a new luxury packaging facility in Scotland called Arete.
The firm also expanded its portfolio with a number of new brands, including: Discarded, an innovative cascara-infused vermouth; “everyday single malt” Aerstone; and Fistful of Bourbon, its first American whiskey brand developed in house.
“We’re delighted to report another year of double-digit top-line growth for our business,” said CEO Simon Hunt.
“As an independent family-owned business, we have made bold decisions to grow the business the right way by investing in our people, our brands and our infrastructure to deliver sustainable long-term growth.”
2018 also saw the company donate £3.2m (US$3.9m) to charity through the William Grant & Sons Foundation. This year has seen the group enter the low-alcohol category with the launch of 0.5% ABV ‘spirit’ Atopia, and expand its gin stable with the creation of Spain-inspired Verano.