William Grant & Sons reports 12.6% profit rise for 2017

Global spirits producer William Grant & Sons has reported profit growth of 12.6% to £250.2m after tax for the year ended 31 December 2017.

According to the company’s report, its positive performance was driven by volume and value growth of its core brands, including Glenfiddich, Hendrick’s and The Balvenie. 

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.”

The report also says that the growth of Glenfiddich can be attributed to the brand attracting the next generation of premium whisky drinkers. 

Hendrick’s Gin broke into Drinks International’s Millionaire’s Club earlier this year and the brand has just moved into a new £13m distillery with double the capacity.

Throughout 2017 William Grant & Sons acquired the Tuthilltown Spirits Company, opened the new grain distillery and bottling plant at Tullamore, created a new home for Tullamore D.E.W and took full control of distribution arrangements in its key market, France.

Earlier this year William Grant & Sons was once again named Distiller of the Year at the International Spirits Challenge.