Independent, family-run distiller William Grant and Sons has announced a 6.7% rise in pre-tax profits to a record £177.2 million, helped by strong sales of Glenfiddich single malt whisky.
The firm, which owns two distilleries in Dufftown, Moray, increased turnover by 6.1% to £882.5 million during 2015, with “strong volume and value growth across its core portfolio of premium spirit brands.”
Volume growth in Glenfiddich sales worldwide was up 5% year on year, while sales of the Hendrick’s gin brand continued to grow rapidly.
The company said planned reduction in distribution of some third party agency brands also contributed to its increased turnover.
Chief executive, Simon Hunt, 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.”
Among the challenges in 2015 highlighted by the company were 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, where the markets continued to be buoyant, remained “robust”.
During the year, Monkey Shoulder, William Grant’s award-winning blended triple malt whisky, became the company’s eighth core brand, reflecting its success globally and the potential for future growth. It also topped a poll for the second year running of 100 leading bars across the world as the top trending whisky.
William Grant was again awarded the prestigious Scotch Whisky Producer of the Year trophy at the International Spirits Challenge.
Founded in 1887 by William Grant, the global company is run by the fifth generation of his family.
Glenfiddich and The Balvenie range of single malts are distilled in Dufftown and other spirit brands among its portfolio include Sailor Jerry, Tullamore DEW Irish Whiskey and Drambuie.
