SCOTCH whisky distiller William Grant & Sons raised operating profits by in excess of 10 per cent in 2013, more than offsetting falls in the preceding two years, its latest figures have shown.
The family-owned company, publishing its 2013 results yesterday, declared that its Glenfiddich brand continued to maintain its position as the world's best-selling single-malt Scotch whisky. It added that The Balvenie single malt continued to grow rapidly in markets around the world.
William Grant meanwhile highlighted a strong performance by its Hendrick's gin, which is distilled at Girvan in Ayrshire, declaring that this brand had enjoyed "phenomenal success".
The distiller, which was founded in 1887 by William Grant, said its operating profits in 2013 had come in at £138 million, up by 10.6 per cent on 2012. William Grant had made operating profits of £132.4m in 2010, up 28 per cent on the 2009 figure. Operating profits dipped to £126.3m in 2011, the year in which the distiller's annual turnover topped £1 billion for the first time, and then to £124.8m in 2012.
William Grant achieved turnover of £1.12bn last year, up by 5.2 per cent on 2012.
Stella David, chief executive of William Grant, said: "Whilst 2013 saw some challenging global economic conditions, the company continued to perform well thanks to our consistent focus on brand-building and investing for the long-term."
She added: "In short, we want to inspire our consumers with our great liquids and the great stories our brands have to tell."
A spokesman for William Grant, which employs 882 of its 1,084-strong UK workforce in Scotland, said the distiller was doing "very well" in the US.
He added that the company had also "beefed up" its presence in the likes of China and India.
Industry figures published in April showed the overall value of Scotch whisky exports dipped marginally last year, as Far Eastern markets including China proved tougher.
The figures, published by the Scotch Whisky Association, showed falls in the value of exports to Japan, Singapore and South Korea. And the volume of direct exports to China tumbled.
However, there were strong performances by Scotch distillers in other markets including the US, Brazil, Mexico, India, Australia and Poland. And the total value of Scotch whisky exports last year, at £4.26 billion, was down only about £14m or 0.3 per cent from the record figure of £4.27bn achieved in 2012.
As well as Glenfiddich, The Balvenie, and Hendrick's, William Grant's key brands also include Tullamore Dew Irish whiskey, which was acquired in 2010, and Sailor Jerry rum.
The company said it continued to invest in its "innovation brands" such as Monkey Shoulder triple-malt Scotch, Reyka vodka, Solerno Blood Orange liqueur and premium Tequila Milagro.
William Grant, as it published its latest results, highlighted the contribution made to the company and the wider Scotch whisky industry by former chairman Charles Grant Gordon.
It said: "December 2013 sadly marked the passing of Charles Grant Gordon.During the 60 years in which he served the company, he worked relentlessly for its advancement and development. There are very few individuals who will have contributed as much as he has to any one company and to the Scotch whisky industry as a whole."
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