BrewDog reports £36.9m turnover
In accounts filed at Companies House, the Scottish brewer and bar operator disclosed a pre-tax loss of £7m, down from a loss of £10.5m in 2020, attributed to periods of pandemic-related closures and restrictions during the year.
The numbers remain below pre-Covid levels, with the company having reported a turnover of £47.1m and a pre-tax loss of £653,000 the year to December 2019.
Record sales
Additionally, in July, BrewDog’s bar business reported a revenue growth of 31% during 2021 to £286m and “record sales” so far in 2022 with the brand opening it's biggest site to date this summer beneath Waterloo Station in London.
However, since July the company has been forced to close six sites due to escalating cost pressures with co-founder James Watt labelling the Government "clueless" and urging them to "get a grip".
Furthermore, prior to the Government's announcement of support with non-domestic energy bills this winter, Watt stated the energy crisis faced by the industry needed to be viewed as "Covid II".
In a social media post on LinkedIn at the time, he said: “I am deeply passionate about our business and our industry. If I can use the platform I am fortunate enough to have to raise awareness of the genuinely existential threat to our industry, then I will put my neck on the line to do so every single time."
Power of entrepreneurs
According to Watt, the pandemic illustrated how the "power of Governments to act" and how they can help businesses and customers alike.
He added: “I passionately believe in the power of entrepreneurs and business to create great brands and companies like ours, but what we’re facing here is bigger than all of us.
“There is no ‘market’ solution or clever fix if a business sees its energy bills and other costs rise tenfold – more likely than not, it will just die.”
