FDBusiness.com

Scotch spirits group William Grant & Sons has achieved annual sales of more than £1 billion for the first time. Turnover increased by 9% to £1.05 billion during its 2011 financial year.

However, reflecting continued investment in the business, operating profits dropped by 5% to £126 million. Sales of the group’s flagship Glenfiddich Scotch malt whisky brand exceeded one million cases the Grant’s. Both brands increased value ahead of volume as did the Hendrick’s Gin, The Balvenie single malt whisky, Sailor Jerry rum and Tullamore Dew Irish whiskey brands, all benefiting from increased investment. William Grant & Sons acquired the Tullamore Dew brand in 2010 and has subsequently purchased full ownership of the Milagro premium tequila brand.

Stella David, chief executive of William Grant & Sons.

The family owned spirits group is also continuing to invest behind its innovation brands, such as Hudson Baby bourbon, and Monkey Shoulder and Reyka vodka. During 2011, William Grant & Sons expanded its international presence by establishing a marketing office in Stockholm for the Nordic region and a new distribution hub in Singapore. Its recently established distribution companies in Colombia and Australia also contributed a fist full year of trading.

“Whilst 2011 saw some tough global economic conditions, the company performed well thanks to the continued success of our premium spirits brands and our consistent focus on building brand equity, improving our route to market and investing for the long-term,” says Stella David, chief executive of William Grant & Sons.