William Grant & Sons report today a turnover of £1,721m, with a profit of £331.3m after tax, for the year ending 31 December 2022, bringing profit levels back in line with those of 2019, before the impact of the global pandemic and despite global supply issues. This represents an increase of 21.7% and 33.8% respectively over the previous year.
The company say the this is the result of William Grant & Sons investing in its brands and its people at record levels over recent years, while also streamlining its processes and ways of working to ensure efficiencies and resilience across its operations. It has all meant that the business has emerged stronger and “better set up for long term sustainable growth while maintaining customer loyalty across its 200 markets around the world.”
In 2022 the company launched Glenfiddich ‘Time Reimagined’, a collection of 50, 40 and 30 Year Old whiskies, and The Balvenie 60 Year Old in celebration of Malt Master David C. Stewart’s 60 years’ work building. The Balvenie to become one of the leading single malt whiskies in the world.
Hendrick’s also added the new ‘Neptunia’ limited release to its Cabinet of Curiosities.
Last year William Grant & Sons was also named Distiller of the Year for the seventh consecutive year at the International Spirits Challenge and, in 2022 alone, it picked up 81 medals and three trophies, saying that this “consistent, independent recognition continues to demonstrate the exceptional quality of liquid produced by the Company, which underpins all of its brands.”
A spokesperson for William Grant & Sons said, “While global crises, including supply issues and inflation, posed significant challenges in 2022, we are proud that performance is now just ahead of pre-Covid levels, and believe that the business is well positioned for consistent growth in the long term, in partnership with our customers.”
As well as investments in processes and technology, including the implementation of a new enterprise resource planning system, the family-led William Grant Foundation awarded £4.3 million in grants to 92 charitable organisations.