Scotland business

William Grant & Sons posts big rise in profit and turnover

William Grant & Sons Image copyright William Grant & Sons
Image caption Grant's said Hendrick's Gin was one of the main contributors to overall growth last year

Spirits giant William Grant & Sons saw turnover and profits soar last year, after benefiting "significantly" from foreign exchange gains.

The producer of leading brands such as Glenfiddich, Drambuie and Hendrick's Gin said pre-tax profits rose nearly 50% to £260.2m in the year to 31 December.

Turnover was up from £882.5m in 2015 to just over £1bn.

The Speyside firm said turnover was driven by strong growth of core brands.

Glenfiddich, Hendrick's and The Balvenie were cited as the main contributors to overall growth, with strong performances also noted from Sailor Jerry, Monkey Shoulder, Drambuie and Tullamore.

Chief executive Simon Hunt said: "Our growth continues to be driven by our talented team's passion for building brands the right way for the long term.

"The consistent investment in our brands, in markets and in future proofing our operational infrastructure, provides a solid platform to continue our growth."

In April, Grant's bought New York state-based craft distillery Tuthilltown Spirits, which makes Hudson whiskey.

The acquisition was the Scottish firm's first move into America's booming craft distilling sector.

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