William Grant & Sons, the family-owned distiller known for brands like Glenfiddich and Hendrick’s Gin, has reported a turnover of £1.962 billion for the financial year ending December 31, 2023, with profits of £444 million after tax, both growing from last year when turnover was £1.721 billion and profit after tax was £333m – a profit growth of 33%.
The growth comes despite a difficult year marked by global economic uncertainty and supply chain disruptions, as the company continued to invest in its operations, focusing on capital projects aimed at strengthening its brand portfolio and improving operational efficiency.
The distiller introduced several new products in 2023, including the Glenfiddich Grand Yozakura, a single malt Scotch whisky finished in ex-Awamori casks, as well as acquiring UK-based gin producer Silent Pool Distillers, as it continues to expand into the premium market segment. More recently, it was also announced that the company is set to acquire The Famous Grouse and Naked Malt from Edrington.
Meanwhile, the company’s charitable arm, the William Grant Foundation, distributed over £4.7 million in grants to 114 charitable organisations, the largest sum awarded in its history.
The year also saw recognition from the industry when William Grant was named Distiller of the Year at the International Spirits Challenge for the eighth consecutive year, as well as picking up several ‘Double Gold’ awards for products from its Glenfiddich and Balvenie ranges.
CEO Søren Hagh said, “Despite 2023 being a year faced with supply chain challenges and macro-economic shifts, we are proud of the growth delivered across our portfolio of leading brands and look forward to continuing to build an ever-stronger Company that delivers for our customers and consumers”.