Scotland business

Spirits firm William Grant and Sons toasts £1bn sales repeat

Grant's bottle and glasses
Image caption Profits fell slightly for 2012 compared to 2011's figures

Spirits firm William Grant & Sons has recorded annual sales of more than £1bn for the second year in a row.

Annual sales came in at £1.06bn, up 1.4%, but profits were down from £126.3m in 2011 to £124.8m in 2012.

The company reported strong sales growth for its Balvenie premium single malt whisky.

Chief executive Stella David said: "Whilst 2012 saw some difficult global economic conditions, the company continued to perform well."

The family-owned firm has invested in its new Irish acquisition, Tullamore Dew, and its Glenfiddich visitor centre on Speyside.

The company said it also continued to invest in brands including Monkey Shoulder, Reyka Vodka, Solerno Blood Orange Liqueur and tequila brand Milagro.

William Grant & Sons said the figures were "thanks to the continued success of our premium spirits brands and our consistent focus on building brand equity and investing for the long-term".

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