SPIRITS firm William Grant & Sons have announced a drop in profit of £1.5m despite sales increases of more than one per cent.
The company announced annual sales of more than £1bn for the second year in a row, with sales of £1.06bn up 1.4%. However, profits dropped from £126.3m in 2011 to £124.8m in 2012.
There was also good news for the company’s Balvenie premium single malt whisky, with strong sales growth supporting investment in its new Irish acquisition, Tullamore Dew, and its Glenfiddich visitor centre on Speyside.
Chief executive, Stella David said the company continued to perform well despite “difficult global economic conditions,” thanking the continued success of premium spirits brands.
The company’s focus on building brand equity and investing for the long-term had helped were also acknowledged as contributing factors to the success.
They continue to invest in brands including Monkey Shoulder, Reyka Vodka, Solerno Blood Orange Liqueur and tequila brand Milagro.