UK: BrewDog FY sales, profits soar as global demand up
- FY net profits up 407% to GBP2.22m (US$3.74m)
- Net sales rose by 70% to GBP18.1m
- Operating profits climbed 387% to GBP2.5m
- More bars, bottle shops planned this year
The Scottish craft brewer continues to expand at a rapid rate
BrewDog has reported a jump in full-year sales and profits as global demand for its beers continues to rise.
The Scotland-based craft brewer saw net profits in the 12 months to the end of December leap 407% to GBP2.22m (US$3.74m), it said today (9 June). Net sales in the period rose by 70% to GBP18.1m. Operating profits in the 12 months climbed by 387% to GBP2.5m.
In its annual report, the company said: “Demand for our beer continues to grow exponentially from all over the world.”
The group boosted its capacity early last year by opening a new brewery in Ellon, Aberdeenshire. This is now being expanded through a GBP4m investment and is due to be complete by August.
Looking at threats to the business, BrewDog said: "We consider the key risks and uncertainties... to be the availability and cost of ingredients for our beers, and the growing prominence of the craft beer market brings with it more competition.
"In order to mitigate these risks and uncertainties, we continue to source quality hops and malt to brew our innovative beers and continue to look for opportunities to bring our beers to the wider public."
James Watt, the company's co-founder, said it is a “hugely exciting time” for the group. “With bars opening up all over the globe, and our plans for more BottleDog shops, the sky really is the limit. Our brewery expansion will help us keep up with demand as the insatiable thirst for craft beer grows.”
BrewDog opened three new bars last year and has opened four this year - including outlets in Tokyo, Sao Paulo and Gothenberg, bringing its total to 17.
It is planning seven more bars this year, including one in Rome. The group also opened its first off-trade outlet - BottleDog - in London this year and has plans for more.
Last year, the company raised GBP4.25m for investment through a crowfunding scheme known as 'Equity for Punks'.
The company spoke out in April this year after UK watchdog the Portman Group's independent complaints panel ruled BrewDog's Dead Pony Club brand fell foul of its rules on marketing.
To read the company's full annual report, click here
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