Wm Grant & Sons hit £1 billion turnover

William Grant & Sons has celebrated passing the £1 billion turnover market for the first time in the company’s history. The Scottish drinks giant, which is still family-owned, saw sales break the £1bn barrier but operating profits dropped 4.6% to £126.3m in 2011.
“The company continued to strengthen its business by building the value of its core brands and investing in its innovation brands, employees and its infrastructure around the globe for the long-term, explaining the slight dip in profits,” it said.
It’s top brands Glenfiddich and Grants whisky topped more than a million cases, and five million respectively. The company also owns The Balvenie, Hendrick’s Gin, Sailor Jerry and Tullamore Dew.
Across the company’s core brands, including Hendrick’s Gin, The Balvenie Single Malt, Sailor Jerry rum and Tullamore Dew Irish whiskey – acquired in 2010 – the group said increased investment has helped to deliver value growth ahead of volume.
Stella David, chief executive of William Grant & Sons, 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.”