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Gin growth helps Halewood’s operating profit rise by over 300%
Halewood Wines and Spirits has stated that the performance of its core gin brands has led to a substantial increase in operating profit, which rose from £4.2 million to £13.4 million in the year ending 30 June 2018.
The UK-based wine, spirits and beer producer said that its “strong growth in underlying profits” was driven by the performance of its gin brands, which include Whitley Neill Gin, JJ Whitley Gin, Liverpool Organic Gin, City of London Gin, Marylebone Gin, Aber Falls Welsh Gin and Peaky Blinder Gin.
Its operating profit rose by 319% while the Liverpool-based company divested itself of its loss-making Romanian wine business, Halewood Romania, as well as its investment in West Cork Distillers.
Stewart Hainsworth, group chief executive of Halewood Wines and Spirits. Photo: Ian Cooper
In its statement announcing the results, Halewood said it would continue to focus on “being the leading player in artisanal gins in the UK” as well as expanding to other international spirits markets overseas. It added that its strategy and £50 million investment programme had already proved successful, with revenue rising by 19.5%.
In particular, the group has focused on brands with a strong regional provenance with key investments in the past year including the completion of the Aber Falls Whisky Distillery (and on-going build of its visitor centre), the acquisition of Dead Man’s Fingers Cornish Rum and the purchase of Polish vodka brand, Vestal.
Commenting on the results Stewart Hainsworth, group chief executive said: “Halewood has delivered an exceptional year of profitable growth.
“The strategy of offering artisanal gins across all channels, regions and consumer price points has transformed the business with an incredible performance from Whitley Neill Gin that is now the best-selling premium gin in the UK.”
This year, Halewood has planned further investment in “premium craft spirits, vertical integration, and boosting its distilling and brewing capability”.