William Grant & Sons has shaken off supply chain disruption woes to produce a 12% jump in sales.
The whisky-maker said it faced “significantly increased” distribution costs during its last full trading year
It was not alone as the industry behind Scotland’s national drink encountered major shipping blockages and delays.
Other sectors were similarly hit as many of their routes to market seized up because of labour shortages, capacity constraints and growing demand following Covid lockdowns.
William Grant reported after-tax profits of £248 million and turnover of £1.415 billion for the 12 months to December 31 2021, up by 3% and 12% respectively year-on-year.
It declined to provide figures for pre-tax profits.
The family-owned company has its spiritual home in Dufftown, on Speyside.
Its portfolio includes single malt brands Glenfiddich and The Balvenie, as well as blended whiskies Grant’s and Monkey Shoulder.
Other drinks made by the firm include Hendrick’s gin, Sailor Jerry rum, Tullamore
Dew Irish whiskey, and heather-honey and whisky liqueur Drambuie.
These results highlight the strength of the company’s brands and a continued recovery from the impacts of Covid-19.”
William Grant said its results reflected a strong year of continued investment.
It added: “As William Grant & Sons continues to build a portfolio of premium brands, it invested record advertising and promotion expenditure and launched a number of new, innovative products.
“The company retained a strong focus on its people, expanding the team to deliver priority projects and adding new skills in areas like data and digital marketing to future-proof performance.
“These results highlight the strength of the company’s brands and a continued recovery from the impacts of Covid-19.”
William Grant said other “key highlights” during 2021 included its support for the hospitality trade as businesses battled to recover from the Covid lockdowns.”
The company also opened a new cooperage and other facilities at Girvan Distillery.
And it launched its first “cross-portfolio innovation”, its Batch & Bottle ready-to-drink cocktail range.
In addition, it opened a new tequila distillery in Mexico.
New Glenfiddich expression
Meanwhile, the firm’s Dufftown-based Glenfiddich brand – one of the world’s best-selling single malts – expanded its range through the launch of a 26-year-old expression, matured in American and European oak, and finished in French Cognac casks.
Another haul of industry accolades came William Grant’s way during 2021, including the title of top distiller for a sixth consecutive year in the International Spirits Challenge.
A spokeswoman for the company said: “Real progress has been demonstrated in
2021.
“Continued resilience of team members in the face of adversity has created a
powerful legacy for the future.
“The key to our long-term success lies in working together as one team, particularly with the supply chain challenges and unrest in the world that are again evident in 2022.”
Family worth £3.4bn
William Grant is owned by chairman Glenn Gordon and his family, who invariably feature at or near the top of Scotland’s wealthiest people in the annual Sunday Times Rich List.
The 2022 list put the family fortune at nearly £3.4bn, although this was down by £200m on a year ago.
Video: Watch spaniel Rocco develop nose for whisky on first day of distillery job
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