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News
William Grant tops £1 billion mark
William Grant & Sons hit a new record as value growth in its core brands and a strengthened distribution network helped the distiller’s turnover surpass £1 billion for the first time.
Stella David, CEO, William Grant & Sons
Despite this 9% increase in turnover for 2011, a combination of tough trading conditions and investment in improved routes to market saw the company’s group operating profit shrink to £126.3 million, down from £132.4m in 2010.
Both Glenfiddich and Grant’s saw value growth outstrip volume increases, while the group stepped up investment in its “innovation brands”, whch include Hudson Baby Bourbon, Monkey Shoulder whisky and Reyka Vodka.
2011 also saw the company acquire full ownership of the Milagro Tequila brand, which posted a strong performance in its core US and Mexican markets.
In a move to strengthen its global distribution network, last year William Grant set up a distribution hub in Singapore, while its recently established distribution companies in Colombia and Australia completed their first full year of trading.
The company also used 2011 to open a dedicated marketing office in Stockholm to support its Nordic markets and signalled its premium focus with the appointment of former Gucci Group CEO Robert Polet as a non-executive director.
Summing up these latest results, Stella David, William Grant & Sons’ chief executive, commented: “While 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.”