Distillery investment eats into William Grant & Sons’ profit

Scottish spirits group William Grant & Sons made £1.3 billion over the course of 2018, according to the company’s latest financial results.

Hendrick’s Distillery Night

Turnover rose 11.6% compared with last year, thanks to “healthy volume and value growth of its core brands”, it said, however the company’s 4% post-tax profit growth, to £206 million after tax, was significantly down on 2017 according to results posted on Friday.

WG&S said this was due to a number of investments in the business, including opening a new Hendrick’s Gin distillery, a new Arete packaging centre for its premium portfolio, and the company’s first bottling operation in India.

The £13 million Hendrick’s ‘gin palace’, which opened in October, comes complete with a palm house, two hot houses, two still houses, a laboratory, flavour library, lecture theatre and gin bar.

The group also launched a number of new brands last year, including Fistful of Bourbon, Discarded and Aerstone Single Malt Scotch Whisky.

Simon Hunt, William Grant & Sons’ CEO, said: “We’re delighted to report another year of double digit top line growth for our business. As an independent family-owned business, we have made bold decisions to grow the business the right way by investing in our people, our brands and our infrastructure to deliver sustainable long-term growth.”

William Grant & Sons launched its first low-alcohol spirit, Atopia, in June this year, bottled at 0.5% ABV. It has also expanded its gin portfolio this year with the launch of Spanish-inspired brand Verano.

Leave a Reply

Your email address will not be published. Required fields are marked *

Please note that comments are subject to our posting guidelines in accordance with the Defamation Act 2013. Posts containing swear words, discrimination, offensive language and libellous or defamatory comments will not be approved.

We encourage debate in the comments section and always welcome feedback, but if you spot something you don't think is right, we ask that you leave an accurate email address so we can get back to you if we need to.