Record rise in profits at family distiller

Whisky: Hendricks and Glenfiddich fuel growth

Independent, family-run distiller William Grant and Sons revealed a record rise in profits helped by strong sales of Glenfiddich single malt whisky.

The firm, which owns two distilleries in Dufftown, Moray, said annual pre-tax profits rose 6.7% to a record £177.2million, while turnover increased by 6.1% to £882.5million 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 marketplace but we are well positioned to continue our growth in 2016 and beyond.”

Among the challenges in 2015 were increased volatil-

“This success was driven by our constant focus on building brands”

ity 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 US and Asia, where the markets continued buoyant, remained “robust”. During the year, award-winning blended triple malt whisky Monkey Shoulder became the company’s eighth core brand, reflecting its success globally and potential for growth. It 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 Chal- lenge. 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.