BrewDog toasts 10-fold profit increase

By John Harrington, M&C Report

- Last updated on GMT

Related tags: Scottish brewer brewdog, Corporation, Brewdog

BrewDog: profits up
BrewDog: profits up
Scottish brewer BrewDog saw operating profits increase more than 10-fold in 2010, its latest accounts show.

Scottish brewer BrewDog saw operating profits increase more than 10-fold in 2010, its latest accounts filed at Companies House show.

Turnover almost doubled to £3.3m (2009: £1.8m), and the company expects it to do so again this year. Operating profits increased from £18,189 to £221,199 for the year to 31 December 2010.

In addition, like-for-like sales in the first four months of 2011 were up 75%, and the company predicts 2011 turnover will be "close to £6.5m".

Company director James Watt said BrewDog has experienced "phenomenal growth since we started our business", with its beers now available in 27 different countries, stocked by the four major supermarket groups and in "many of the best beer bars and beer shops around the world".

He added: "This is just the beginning for BrewDog. We are determined to redefine the beer-drinking culture in the UK, showing beer drinkers there is an alternative to the tasteless and mass-produced fizzy yellow beers that dominate the market."

The company's subsidiary, BrewDog Bars, was incorporated in November last year to run a chain of branded bars — its fourth venue is to open in Camden, north London, in August.

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