UK: Exports driving up Innis & Gunn sales
Innis & Gunn sales exceed expectations so far in 2011
Innis & Gunn has already surpassed its net sales target in 2011 thanks to strong consumer demand for its namesake beer in the US.
Innis & Gunn said this week that its beer sales rose by 64% for the eight months to the end of August, compared to the same period of 2010. The brewer said that it has already surpassed net sales for the whole of 2010, when sales rose by 20% to GBP5.2m, excluding duty tax.
The group, which began by producing beer aged in Scotch whisky barrels, has benefited from a "seven-figure" internal investment in 2010, it said. This included the establishment of a subsidiary group in the US, Innis & Gunn USA, where the firm said that it has surpassed sales of 1m bottles in its first 12 months of trading.
Exports accounted for 80% of the group's overall sales by value in the first eight months of 2011. Innis & Gunn has found success in renewed excitement around craft beer in the US.
But, the firm's strong showing also highlights growth for UK beer exports as a whole, which rose by 24% in 2010 to GBP544m.
Innis & Gunn MD Dougal Sharp said: "The business has made the most of the favourable trading conditions in export markets caused by the relative weakness of Sterling. Our international debt books have become more valuable and as a result we have invested ahead of budget in driving sampling, awareness and sales in all of our key export markets."
A spokesperson for the group told just-drinks yesterday (29 September) that it will not release profits figures, because, as a registered small business, "[UK] Companies House only requires us to submit abbreviated accounts".
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