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Big investments hit profits at William Grant

Published:  30 September, 2019

Scottish spirits business William Grant & Sons grew 11.6% in 2018 to reach turnover of £1.3bn, the company has reported.

Profits at the family-owned distiller rose 4% after tax to £260m in the year to end 31 December.

The reported profit growth rate is significantly down on 2017, when the company’s profits were up 12.6% after tax.

However, William Grant made a number of major investments last year, including opening a new distillery for Hendrick’s Gin (pictured above) as well as its Arete packaging facility for premium brands.

It has also launched a range of new brands on the the market, including Aerstone single malt, Verano gin and Atopia - a 0.5% abv spirit targeting the fast-growing low-and-no-alcohol sector.

The company also donated £3.2m to charitable causes in 2018 through its William Grant & Sons Foundation.

Simon Hunt, chief executive at William Grant, said: “We’re delighted to report another year of double-digit top-line growth for our business.

“As an independent family-owned business, we have made bold decisions to grow the business the right way by investing in our people, our brands and our infrastructure to deliver sustainable long-term growth.”

Founded in 1887, brands owned by William Grant include The Balvenie, Glenfiddich, Drambuie and Milagro.