Company Results

Be Proud

Profits return to pre-pandemic levels

29 September 2023: William Grant & Sons today reported turnover of £1,721m, with a profit of £331.3m after tax, for the year ending 31 December 2022. This represents an increase of 21.7% and 33.8% respectively over the previous year.

These figures bring profit levels back in line with those of 2019, before the impact of the global pandemic and despite global supply issues. William Grant & Sons has spent recent years investing in its brands and its people at record levels, while also streamlining its processes and ways of working to ensure efficiencies and resilience across its operations. As a result, the business has emerged stronger and better set up for long term sustainable growth while maintaining customer loyalty across its 200 markets around the world.

Key highlights for 2022 include:

  • The launch of Glenfiddich ‘Time Re:Imagined’, a collection of 50, 40 and 30 Year Old whiskies, and The Balvenie 60 Year Old in celebration of Malt Master David C. Stewart’s 60 years’ work building The Balvenie to become one of the leading single malt whiskies in the world. These rarefied releases demonstrate the Company’s ever-growing luxury credentials.
  • Hendrick’s addition of the new ‘Neptunia’ limited release to its Cabinet of Curiosities.
  • Investments in processes and technology, including the implementation of a new enterprise resource planning system.
  • The family-led William Grant Foundation awarding £4.3 million in grants to 92 charitable organisations.

In 2022, William Grant & Sons was named Distiller of the Year for the seventh consecutive year at the International Spirits Challenge. In 2022 alone, the Company received 81 medals and three trophies recognising quality across its entire brand portfolio. This consistent, independent recognition continues to demonstrate the exceptional quality of liquid produced by the Company, which underpins all of its brands.

A spokesperson for William Grant & Sons commented: “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.”

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