UK: William Grant & Sons toasts record sales in FY results
- 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
William Grant & Sons released its 2011 results today (5 October)
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.
What do Bacardi, Diageo and Pernod Ricard have in common? Aside from the obvious, Ian Buxton proffers that they share the same problem when it comes to Bourbon, and that's their lack of it....
While there has been huge focus in the spirits sector on emerging markets in recent years, a new report from Euromonitor International suggests prioritising development in these up-and-coming regions ...
- Are we kidding ourselves over craft spirits?
- Is Brown-Forman doing a Jack Daniel's in Ireland?
- Is Brown-Forman at the end of the SoCo road?
- What's behind Brown-Forman's Irish whiskey plans?
- Interview - Heineken global activation director
- Diageo, Treasury Wine Estates quiet on wine sale
- Diageo secures Xerox Corp CFO as finance head
- Scotch whisky sees sales turn corner - SWA head
- Tesco pulls several Carlsberg SKUs in UK
- Former Pernod Ricard exec joins Wakefield Wines
- The IWSR Duty Free/Travel Retail Report 2015
- Future growth opportunities for global spirits
- Global gin insights - market data, product innovation and consumer trends research
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends research
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research