SPIRITS company William Grant & Sons has made a record £147.4 million profit as demand for its products rocketed in America and Asia, writes Kirsteen Paterson.
The independent company attributes a near-nine per cent annual increase to “strong volume and value growth” across its core portfolio”. This includes a five per cent rise in volume for Glenfiddich whisky, and “rapid” growth of Hendrick’s gin.
Blended triple malt Monkey Shoulder has also grown to become the company’s eighth core brand and senior figures say this proves its potential for further increases in volume. Overall turnover was up by six per cent from £832.7m to £882.5m despite “challenging” conditions. These includes volatility in Eastern European markets, as well as Africa and the Middle East, as well as increased competition and the adverse impact of foreign exchange.
However, “robust” demand for super premium spirits in Asia and America meant those markets remained “buoyant”, the firm said. Chief executive Simon
Hunt said: “This success was driven by our constant focus on building brands and investing in them for the long term.
“We have also continued to invest in our operational capabilities and our route to market infrastructure. It has been a challenging market place but we are well positioned to continue our growth in 2016 and beyond.”
Meanwhile, in a major legal breakthrough, Scotch Whisky has been registered as a certification trade mark in Taiwan, giving consumers and the industry better protection against fakes. Taiwan is the fourth-biggest market for Scotch by value, with exports worth £75m in the first six months of the year, and the third-biggest overseas market for single malt, with exports worth £41m in the first half of 2016.
The Scotch Whisky Association (SWA) applied for the trade mark. It recognises that Scotch must be made in Scotland from water, cereals and yeast and matured for at least three years. A second trade mark has been awarded in Taiwan to protect the Chinese characters that spell out Scotch Whisky.
SWA senior legal counsel Lindesay Low said: “ It will also give a further boost to Scotch Whisky producers exporting to Taiwan.”
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