Family-owned distiller William Grant & Sons has reported a healthy increase in sales and profits.
The Glenfiddich Scotch whisky owner said today that turnover for the year ending December 31, 2022 was up 21.7% on FY21, to £1.72 billion. Profit after tax rose 33.8%, to £331.3 million.
William Grant said these figures bring profit levels back in line with 2019, “before the impact of the global pandemic and despite global supply issues”.
The company’s 2022 highlights include the launch of Glenfiddich ‘Time Reimagined’, a collection of 50, 40 and 30 Year Old whiskies, and The Balvenie 60 Year Old in celebration of malt master David Stewart’s 60 years in the business. Elsewhere, the company mentioned Hendrick’s gin’s Neptunia release as well as the implementation of a new enterprise resource planning system.
A spokesperson for William Grant & Sons said: “While global crises, including supply issues and inflation, posed significant challenges in 2022, we are proud that performance is now just ahead of pre-Covid levels, and believe that the business is well positioned for consistent growth in the long term, in partnership with our customers.”
The privately-owned group did not disclose any further figures.