The Cornwall-based business also reported underlying EBITDA (earnings before interest, tax, depreciation and amortisation) growth of 8.7% in the 52-week period to 28 December 2024 while turnover hit £231m.
The Publican Awards winner also revealed that during the financial year, St Austell Brewery’s managed houses delivered strong sales with like-for-like growth of 13%.
In 2024, it invested £18.3m in capital expenditure across all areas of the business.
The brewer said that in the beer business there was continued investment in the company’s brewing capability and its brands.
Strong growth
This saw the launch of Proper Job 0.5%, which is described as a “strategic move” into the low & no category.
Following the investment into Harbour Brewing Company in 2022, the performance of its lead brand, Arctic Sky, continues to deliver strong growth, up 78% on the previous year, it said.
St Austell Brewery CEO Kevin Georgel said: “I’m proud of the strong financial performance in 2024 which came off the back of a very strong 2023.
“The results are all the more meaningful given the challenging trading environment.
“Despite the sustained economic headwinds, and wider market challenges, the commitment and passion of our people, and the resilience of the company, have enabled us to deliver continued growth in both revenue and profits.”
Resolutely focused
He added: “As we look forward, while the outcome of the Autumn Budget has created significant additional cost pressures - necessitating some difficult but necessary decisions to review and reduce our operational structure - we remain resolutely focused on delivering our long-term strategy and sustainable growth.”
St Austell Brewery chairman Gerard Barnes said: “While inflation has eased, a combination of fragile consumer confidence, higher taxation, the lowest number of visitors to the south-west in a decade, and a second summer of disappointing weather, conspired to provide a challenging backdrop in 2024.
“The financial results represent continued momentum and positive progress against our strategic plans.
“As we continue to navigate the many challenges and evolving customer demands, our ambitious capital investment programme remains key to our long-term success.”
