Brewdog unveils huge revenue upturn

Gross profit was £37.6m up from £24.7m, but overheads were £35.1m, with overall revenue £111.5m – up 55% on 2016.

UK revenue was £89.9m – up from £58.4m in 2016.

The company said it had eight bar launches in the pipeline globally for the first half of 2018, and forecasts further strong UK revenue growth in both the on trade and off trade channels.

In February the company reported an 11% increase in like-for-like bar sales during 2017, with total UK bar sales for 2017 £24m. 

Strong revenue

Brewdog’s annual report stated: “We are forecasting further strong revenue growth for 2018 as we take advantage of a full years production from our Columbus brewery, continued international expansion and further strong UK revenue growth in both the on trade and off trade channels.

“As planned our overheads increased significantly on 2016. This reflects continued investment in our senior people and teams as well as the impact of new bars together with the full year effect of Columbus and our Lone Wolf distillery.

“Our 2017 adjusted EBITDA performance is strong and shows good growth on 2016. This validates our strategy of investing heavily in new capacity to scale the business whilst maintaining healthy profitability.

“We continue to re-invest these profits in our beer and people to underpin future revenue growth and solid profitability.”