William Grant & Sons profit falls 13% in 2025
The Glenfiddich owner reported lower annual profit and turnover as difficult market conditions, geopolitical pressures and weaker consumer demand affected its 2025 performance.
SCOTLAND – William Grant & Sons, owner of Glenfiddich and Hendrick’s Gin, reported a 13% decline in profit before tax for 2025 as weak consumer demand and trade pressures weighed on its performance.
The spirits company posted profit before tax of £337 million (US$446.5 million), down from £388 million (US$520.6 million) in 2024. Turnover fell 4% to £1.758 billion (US$2.33 billion).
The company said its results for the year ended 31 December 2025 were affected by difficult market conditions, geopolitical and trade pressures, and lower demand.
The latest decline follows a difficult 2024, when William Grant’s turnover dropped 6.5% and pre-tax profit fell 30%. The company then cited significant destocking and challenging market conditions.
William Grant did not provide detailed results for individual brands. It said performance varied across its portfolio, with resilient contributions in selected areas and market share gains across several categories.
Graeme Jenkins, chief financial officer, described 2025 as “another challenging year for the spirits industry”.
He added that external pressures affected performance across many of the company’s key markets.
During 2025, William Grant said it made significant investments in its brands and completed the acquisition of The Famous Grouse and Naked Malt whisky brands from Edrington in July.
The company also reduced production at its Tullamore Irish whiskey distillery in April 2025 and is working to expand Girvan Distillery on Scotland’s west coast.
Jenkins said the company remained focused on its longer-term prospects despite the latest results.
“While the results reflect the current operating environment, our confidence in the long-term fundamentals of the spirits industry remains strong,” he said.
“The company will continue to take those actions that ensure we are well positioned to benefit when market conditions improve.”
William Grant’s CEO position remains vacant following Søren Hagh’s departure in November, less than two years after he assumed the role.
The company’s brand activity has continued. The Balvenie unveiled an 88-year-old single malt distilled in 1931, its oldest whisky to date, while Glenfiddich underwent a redesign earlier this year.
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