Halewood Wines & Spirits see profits double
Halewood Wines and Spirits has reported a 100% increase in net profits in the year ending 1 July 2017 and are planning further acquisitions.
The financial year saw profits grow to £3.9 million (US$5.3m) from £1.7m (US$2.3m) in 2016.
The steep sales growth can be attributed to the new management team, with successful supermarket listings for mid-priced and premium spirits around the world, as well as increased exports – with special emphasis on Asia, particularly in China and Thailand.
“Halewood has delivered a second year of profit as the impact of the successful restructuring and change in corporate strategy delivers sustainable margin growth. We have seen particular success with our range of premium gins and Whitley Neill Gin is now the third largest premium gin by value in the grocers.”
Stewart Hainsworth, group chief executive
Recent acquisitions have included the City of London Distillery, which has “added strength” to the portfolio.
There are also plans for further acquisitions and internal invest in distilling and brewing capabilities to “enhance the premium craft spirits portfolio”.← BACK TO ALL ARTICLES