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Chivas Brothers confirm strongest financial performance in a decade

Chivas Brothers has announced its FY23 (July 2022 – June 2023) full-year performance, with net sales up 17%. The result takes its total sales to a ten-year high.

Alongside the positive growth, Chivas Brothers has also announced more than £60 million in planned investment over the next three years to accelerate its energy and carbon reduction journeys to achieve carbon neutral distillation by the end of 2026.

The company previously made moves to make its heat recovery technology learnings open source for the industry.

Celebrating a global growth of 25%, the company has seen impressive performance in markets such as India and Japan, with its success driven by its core aged range.

Ballantine’s grew by 13%, while Royal Salute recorded a significant growth of 32%, as the brand continued to elevate through exclusive luxury releases such as the Royal Salute Coronation of King Charles III Edition.

Chivas Brothers Chairman and CEO, Jean-Etienne Gourgues, commented: “The historic highs we’re seeing across our strategic brands signal the success of our premiumisation strategy which has enabled Chivas Brothers to outperform the market. Our highest growth of the last decade reinforces our position to shape the future of sustainable Scotch while continuing to meet demand. We have fast-tracked a number of sustainability initiatives to meet our own ambitious targets and remain committed to supporting the industry in ushering in this new era —as we demonstrated earlier this year by making our heat recovery findings open source.”

More information can be found at the Chivas Brothers website

31 August 2023 - Bradley Weir