Tullamore Dew boosts William Grant profits

The purchase of Tullamore Dew has helped William Grant & Sons record a healthy increase in annual profits.

The global spirits group recorded group operating profit of £132.4 million for 2010, up from £103.6m the previous year, on a turnover of £951.5m – up 14%.

A statement claimed: “The growth comes from the continued success and investment behind its core global brands and is boosted by the acquisition of Tullamore Dew Irish Whiskey, the largest acquisition in the group’s history and now the company’s sixth core global brand.”

Over the course of the year, William Grant & Sons continued to invest significantly behind its core global brands, including a multi-million pound global marketing push behind Glenfiddich single malt Scotch.

It also increased investment behind Grant’s, the world’s number three Scotch brand, The Balvenie, Hendrick’s Gin and Sailor Jerry.

In 2010, the company also established a global marketing office in Dublin to manage its non-Scotch portfolio (Sailor Jerry, Hendrick’s Gin and the newly acquired Tullamore Dew) and set up new offices in Australia and Colombia to more effectively manage its route to market in these areas.

First Drinks Brands, the company’s UK subsidiary, relocated to new offices in Hook, Hampshire.

Stella David (pictured), William Grant & Sons chief executive, said: “The acquisition of Tullamore Dew, the continued investment behind our brands and the group’s infrastructure along with improvements in our route to market helped deliver some good results for 2010, despite difficult trading conditions around the world.

“We shall continue to focus on becoming the most coveted branded spirits company in the world, to remaining independent, in an increasingly consolidated industry, and to investing in our portfolio of award-winning brands to secure the long-term future of the business.”