Super-Premium Growth In U.S. Drives Record Profits For William GrantSeptember 27, 2016
While challenges abound across the global spirits market, rising upscale sales in the U.S. are driving gains for William Grant & Sons. In figures just released, William Grant revealed that it reached a record profit of £147 million ($191m) in its 2015 fiscal year, an increase of 9%, as sales grew 6% to £883 million ($1.1b). The company noted that while volatile conditions have roiled a number of emerging markets, “demand for super-premium spirits, particularly in the USA and Asia remained robust where the markets remained buoyant.”
In the U.S., William Grant & Sons’ single malt Scotch whisky stable has been on a sharp rise, with Glenfiddich up 16% to 163,000 cases last year and Balvenie advancing 9% to nearly 90,000 cases, according to Impact Databank. Hendrick’s gin and Monkey Shoulder blended triple malt whisky have also contributed to the upswing. William Grant CEO Simon Hunt stated that the company has continued to invest behind its brands, operations and route to market recently, and is well-positioned for further growth. —Daniel MarstellerSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.