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Halewood reports 100% leap in net profits

Published:  08 January, 2018

Halewood Wines and Spirits has reported a 100% leap in net profits for the year ending 1 July, 2017.

In the results, announced this morning, the parent company of independent alcoholic drinks manufacturer and distributor Halewood International, said 2017 had delivered "a strong year of profitable growth” of £3.9m, compared to £1.7m in 2017.

The results reflected a "positive turnaround year" with revenue growth driven by the new management team via key supermarket listings in mid-priced and premium spirits throughout the globe, said the business, which is behind brands such as Whitley Neill Gin, Pogues Irish Whiskey, Hawkshead Brewery and Crabbie’s. 

The group strategy of developing a premium range of artisanal craft spirits and beers alongside continued investment in brand marketing, route to market distribution and vertical integration had delivered revenue and profit growth, the report stated.

In addition, the group’s investment in production capability and acquisitions, especially distilling, brewing and sourcing, had a stimulated development of higher quality liquids to create strong brand provenance and a point of difference, it said.

Key acquisitions, including Hawkshead Brewery, City of London Distillery and Sadler’s Ales, had added strength to the brand portfolio, with the business having continued to delist low margin and non-profitable lines, rationalised brands and product ranges as part of its strategy to move from “a volume focus to a margin driven branded business”.

“Halewood has delivered a second year of profit as the impact of the successful restructuring and change in corporate strategy delivers sustainable margin growth,” said group chief executive, Stewart Hainsworth, adding the company's range of premium Gins and Whitley Neill Gin had proven particular successful.

To keep the momentum going, further brand acquisitions and internal investment in the company’s distilling and brewing capability to enhance the premium craft spirits portfolio were in the pipeline, he added.