UK: William Grant & Sons toasts record sales in FY results
By Andy Morton | 5 October 2012
- Net sales increase by 9% to GBP1.05bn (US$1.7bn)
- Operating profit down by 4.6% to GBP126.3m
- Glenfiddich and Grants brands see value outstrip volume growth
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William Grant & Sons released its 2011 results today (5 October) |
Glenfiddich-owner William Grant & Sons has recorded its highest-ever sales, with brands topping GBP1bn for the first time.
Net sales increased by 9% to GBP1.05bn (US$1.7bn) in the last calendar year, the UK-based spirits company said today (5 October). Operating profits, however, decreased by 4.6% to GBP126.3m over the same period.
William Grant is privately-owned and not required to release complete annual financial details.
Company CEO Stella David said: “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.”
Core brands Glenfiddich and Grants both found value growth ahead of volume growth, the company said without giving details. Single malt Glenfiddich sold about 1m cases, while Grants sold about 5m, the company said.
Newly-acquired Tequila brand Milagro “is performing well” in its core markets of the US and Mexico, the company said.
In April, Glenn Gordon was announced as William Grant & Sons' new non-executive chairman, replacing Peter Gordon.
Expert analysis
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Sectors: Company results, Spirits
Companies: William Grant, Glenfiddich
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UK: William Grant & Sons toasts record sales in FY results
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