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William Grant & Sons profits surge 8.9%

DBR Staff Writer Published 28 September 2016

Drinks giant William Grant & Sons has reported an 8.9% increase in profits after tax for fiscal year 2015, reaching a record high of £147.4m.

The company posted a profit of £135.3m in 2014.

A planned reduction in third-party distribution deals and a resulting focus on its core portfolio saw reported sales turnover increase 6.1% to £882.5m, compared to £832.7m in 2014.

William Grant & Sons chief executive Simon Hunt said:  “This success was driven by our constant focus on building brands and investing in them for the long term.”

The UK headquartered distiller said that it could deliver “record profit” despite the prevailing volatile conditions across Eastern Europe, the Middle East and Africa.

The company noted that the impact caused by the lesser sales in those regions was diminished by the strong demand for super premium spirits in the US and Asian markets.

Hunt added: “We have also continued to invest in our operational capabilities and our route to market infrastructure. It has been a challenging market place but we are well positioned to continue our growth in 2016 and beyond.”

Among its brands, the Glenfiddich single malt Scotch whisky saw its volume grow by 5% compared to 2014.

While not revealing the exact figures, the global distiller said that Hendrick’s gin and Monkey Shoulder triple malt whisky had both grown globally in 2015.

Image : William Grant & Sons chief executive Simon Hunt. Photo : courtesy of William Grant & Sons.