William Grant Posts 10.6% Profit Rise For 2013, On Turnover Increase of 5.2%September 5, 2014
William Grant & Sons Ltd. reported a 5.2% increase in turnover to £1.12 billion ($1.83b) for calendar year 2013, while operating profit rose 10.6% to £138 million ($225m).
“2013 saw some challenging global economic conditions, but the company continued to perform well, thanks to our consistent focus on brand building and investing for the long-term,” said chief executive Stella David.
William Grant noted the ongoing success of Hendrick’s gin, which rose by 20% in the U.S. market last year to 210,000 cases, according to Impact Databank, winning an Impact “Hot Brand” award. Hendrick’s has largely been built on word of mouth and bartender endorsements.
Glenfiddich, meanwhile, sustained its position as the world’s top single malt Scotch whisky, while the company’s other major single malt, The Balvenie, continued its growth trends in global markets. William Grant released two new whiskies in 2013: The Girvan Patent Still single grain Scotch and The Kininvie single malt Scotch. (The Kininvie distillery was opened in 1990.)
The company said it will continue to invest in its other innovation brands, which include Monkey Shoulder triple malt Scotch, Reyka vodka, Solerno Blood Orange liqueur and the Milagro premium Tequila brand.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.