Glenfiddich-maker William Grant & Sons sees sales rebound but warns of 'challenges and unrest'
Family-owned distiller William Grant & Sons has seen continued investment pay off after cheering a rebound in sales and profits.
Releasing accounts for 2021, the spirits giant said turnover had risen 12 per cent to just over £1.4 billion generating a profit of £248 million after tax, up 3 per cent on the year before. Both measures had fallen during the year ending December 31, 2020 on the back of pandemic-related challenges.
The group - whose brands include whiskies Glenfiddich and The Balvenie, and Hendrick’s Gin - said the positive 2021 results had been achieved despite “significantly increased distribution costs” to deliver products to markets during a time of supply disruption.
It said it had aided the on-trade rebound following Covid closures by “supporting the hospitality trade, re-building its presence and activating brands”. The firm also created a new, state-of-the-art cooperage and liquid supply area at Girvan distillery.
A spokesperson for William Grant & Sons said: “Real progress has been demonstrated in 2021, and the continued resilience of team members in the face of adversity has created a powerful legacy for the future. The key to our long-term success lies in working together as one team, particularly with the supply chain challenges and unrest in the world that are again evident in 2022.”
The firm was founded by William Grant in 1887. Last year, William Grant & Sons was named distiller of the year, for the sixth consecutive year, at the International Spirits Challenge (ISC). During the year, its brands also won more than 150 awards.