William Grant & Sons, the family-owned spirits company behind brands such as Glenfiddich and Famous Grouse, reported a 13 percent decline in annual pre-tax profit amid ongoing global market challenges. The company attributed the downturn to a combination of geopolitical tensions, trade pressures, and weakened consumer demand in key markets.

The firm’s annual accounts, expected to be filed at Companies House, indicate revenue falling to approximately £1.76 billion for the year ending 2025, down from £1.83 billion the previous year. Pre-tax profit is projected at around £337 million, a decrease from £388 million.

Industry analysts have pointed to several factors affecting the broader sector, including the impact of U.S. tariffs on imported spirits, inflation and cost-of-living concerns that have reduced discretionary spending, and a slowdown in the Chinese market, which is a significant growth area for premium liquor brands.

Despite the challenging environment, William Grant & Sons completed a major acquisition during 2025, obtaining regulatory approval to acquire the Famous Grouse and Naked Malt brands from Edrington Group, expanding its portfolio further. The company’s range also includes Grant’s blended Scotch whisky, The Balvenie single malt, Tullamore Dew Irish whiskey, Drambuie liqueur, Hendrick’s gin, and Sailor Jerry rum.

Graeme Jenkins, the company’s chief financial officer, acknowledged the difficulties faced during the year but emphasized the company’s commitment to operational excellence. “2025 was another challenging year for the spirits industry, with external pressures affecting performance across many of the company’s key markets. Against this backdrop, our focus has been on outstanding execution,” he said.

Founded in 1887 by William Grant in Dufftown, Moray, the business remains under the control of descendants of the Gordon family, William Grant’s heirs. The company employs approximately 2,800 people and operates in more than 50 countries worldwide.