Scotch Whisky firm William Grant & Sons — maker of Glenfiddich and The Balvenie — has reported a 14% rise in turnover to £1.962 billion, with profit after tax up 34% to £444 million for the year ending December 31, 2023.

William Grant’s brands also include Grant’s, Drambuie and Hendrick’s gin.

Last month, William Grant reached an agreement to buy The Famous Grouse and Naked Malt Scotch Whisky brands from Edrington.

“The figures signify that despite the volatile macro-environment, William Grant & Sons continues to perform strongly,” said William Grant.

“During 2023, progress was made in building an increasingly effective and efficient organisation with the capabilities needed to perform well into the future.

“With long-term thinking a core value of the business, the Company continues to invest strongly in capital expenditure projects, building world-class brands through new products and partnerships, and its people.”

The family-led William Grant Foundation awarded a record total of over £4.7 million in new grants to 114 charitable organisations.

William Grant CEO Søren Hagh said: “Despite 2023 being a year faced with supply chain challenges and macro-economic shifts, we are proud of the growth delivered across our portfolio of leading brands and look forward to continuing to build an ever-stronger company that delivers for our customers and consumers.”