Distiller enjoys strong year
Record profit for William Grant & Son
The group continued to focus on its core portfolio and planned reduction in the distribution of some third party agency brands. This strategic shift resulted in reported turnover increasing from £832.7m to £882.5m, an increase of 6.1%.
The rise in profit was delivered despite challenging conditions in terms of increased volatility across Eastern Europe, the Middle East and Africa, the adverse impact of foreign exchange and increased competition.
However, demand for super premium spirits, particularly in the USA and Asia remained robust where the markets remained buoyant. Despite these wider economic circumstances the company has continued to invest in its core portfolio, production facilities and people.
Simon Hunt, chief executive (pictured), said: “This success was driven by our constant focus on building brands and investing in them for the long term.
“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.”
Glenfiddich saw a 5% growth in volume. Monkey Shoulder, the blended triple malt whisky, became the Company’s 8th core brand.