Distiller ranked number-one private Scottish firm by Grant Thornton

Moray firm William Grant and Sons, which is based in Dufftown, ranked number one out of 100 Scottish firms in the second annual Scotland Ltd report produced by the accountancy firm.

The food and drink sector contributed more entries than any of the sectors, with 21 businesses, according to the report which comes up with its rankings using a measure of turnover and profits.

The 100 companies’ combined operating profits soared 65 per cent to £1.5billion on the back of revenues totalling £22.3billion.

Long-term debt increased by 90 per cent to £3.2 billion from £1.7 billion, however.

Kevin Engel, managing partner for Grant Thornton in Scotland, said: “Despite challenging trading conditions caused by the global oil and gas downturn, which has contributed to a drop in exports, Scotland’s limited businesses have shown remarkable entrepreneurship and resilience, and helped generate a dynamic and vibrant economy.

“Our research suggests food and drink is clearly the top sector in Scotland 2015, with strong results in all areas from operating profit to employee numbers.

“Another industry that faced similar challenges to that of the oil and gas industry is property and construction. Following a year in recovery mode, our research shows the sector performing strongly.”