Record sales for Beefeater gin and Chivas Regal whisky owner

Profits at the company behind the likes of Beefeater gin and Chivas Regal whisky surged by almost £100m during its latest financial year as its sales passed the £1.3bn mark.

Chivas Brothers International, which is based in Scotland, has reported pre-tax profits of £309.1m for the year to June 30, 2023, up from £220.6m.

Newly-filed accounts with Companies House also show that its revenue increased from £1.1bn to £1.3bn over the same period.

The company, which is part of the wider Pernod Ricard Group, includes the Chivas Regal, Ballantine’s, Beefeater, The Glenlivet and Royal Salute brands.

It is also responsible for other single malt Scotch whiskies including Aberlour, Scapa, the Secret Speyside collection and Longmorn.

During the year the group sold the licence for the Clan Campbell whisky brand for £57.8m to Stock Spirits Group resulting in a gain of £44.6m.

Chivas Brothers International’s turnover in Europe increased from £465.6m to £491.8m in the year while it grew from £297.5m to £306.9m in the Americas. Its turnover surged from £293.8m to £509m in Asia.

During the year the average number of people employed by the group rose from 211 to 249.

A statement signed off by the board said: “The company remains confident of the appropriateness of its business model as demonstrated with the strong performance and resilient global footprint of the brand portfolio.

Separately, the group’s business behind the Plymouth Gin brand reported pre-tax profits of £189.4m for the year to June 30, 2023, up from £77.2m.

The business, which operates out of the UK’s oldest working gin distillery, also provides financing to other Pernod Ricard group companies.

A statement signed off by the board said: “In the year ahead, the directors are confident that the company will deliver positive trading results and they will continue to aim to deliver operational efficiencies in an environment where inflationary pressures are starting to ease.”

The Pernod Ricard Group’s brands also include the likes of Havana Club, Absolut and Jameson.