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Profits rise at Glenfiddich and Drambuie maker William Grant & Sons | Profits rise at Glenfiddich and Drambuie maker William Grant & Sons |
(about 2 hours later) | |
William Grant & Sons, the spirits group that last year acquired the historic Scotch whisky liqueur Drambuie, has unveiled an increase in profits despite slowing sales. | William Grant & Sons, the spirits group that last year acquired the historic Scotch whisky liqueur Drambuie, has unveiled an increase in profits despite slowing sales. |
The Speyside-based group – which also produces Glenfiddich, Hendricks gin and Tullamore Dew Irish Whiskey – said it had achieved record results despite adverse currency movements and a 7% fall in the value of Scotch whisky exports. | |
Profits climbed 4% to nearly £140m despite a near 17% fall in turnover to £933.2m. The group’s core premium brands saw an increase of 9% in their sales but a planned reduction in the distribution of third party agency brands contributed to the decline. | Profits climbed 4% to nearly £140m despite a near 17% fall in turnover to £933.2m. The group’s core premium brands saw an increase of 9% in their sales but a planned reduction in the distribution of third party agency brands contributed to the decline. |
The group said: “This strategic shift has allowed more focus on the group’s owned portfolio of core premium brands, which saw turnover increase by an impressive 9% year on year.” | The group said: “This strategic shift has allowed more focus on the group’s owned portfolio of core premium brands, which saw turnover increase by an impressive 9% year on year.” |
The independent family-owned distiller said that “careful nurturing” would deliver long-term growth for Drambuie, which had seen its profits falter before the change in ownership. It said that Drambuie, which is a mix of whisky, honey, heather and spices made to a recipe allegedly passed on by Bonnie Prince Charlie in 1746, fitted naturally with its premium-branded portfolio. | The independent family-owned distiller said that “careful nurturing” would deliver long-term growth for Drambuie, which had seen its profits falter before the change in ownership. It said that Drambuie, which is a mix of whisky, honey, heather and spices made to a recipe allegedly passed on by Bonnie Prince Charlie in 1746, fitted naturally with its premium-branded portfolio. |
Sources said that there were plans afoot to further exploit the Drambuie brand but there would be no details for the time being. | Sources said that there were plans afoot to further exploit the Drambuie brand but there would be no details for the time being. |
Strong growth was delivered by the Balvenie and Glenfiddich brands, with Hendricks gin growing strongly across the world. | |
Chief executive Stella David said: “The success was driven by our constant focus on brand-building and investing for the longer-term. The business and our brands are well positioned to continue their growth in 2015 and beyond.” | Chief executive Stella David said: “The success was driven by our constant focus on brand-building and investing for the longer-term. The business and our brands are well positioned to continue their growth in 2015 and beyond.” |
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