The family-run business, which will celebrate its 200th anniversary in 2027, saw turnover increase to £9.24m for the period, an increase from £8.80m in the previous year.
The Masham business said growth came as the business saw demand for its cask ale continuing to rise, with the brewery noting particular interest in its darker beers.
However, profit before taxation dropped by 72% from £271,000 to £76,000 – largely as a result of £300,000 of additional packaging taxes, Theakston said.
The brewery also continued its cautious approach to price increases as it seeks to protect, as far as it is able, its on-trade customers, who have been impacted by a number of increased overheads.
Continued commitment
“With some pubs now charging £10 per pint in London, the sixth-generation business remains passionate about the important role that pubs play in their local communities and welcomes that Yorkshire drinkers can still enjoy a pint in their local for around half of that,” Theakston said.
Cask ale volumes in the on-trade grew by 3%, led by its Old Peculier and Theakston XB dark beer brands.
Theakston managing director Richard Bradbury said: “We’re pleased to report another year of growth. These results highlight that our continued commitment to producing high-quality beer, supporting our pub customers and listening to our consumers, is having a positive impact on our business.
“While our pre-tax profit may have decreased, the majority of this is the result of increased packaging taxes. It is also reflected in our ongoing work to minimise the cost pressures on our pub customers and their consumers, by ensuring price increases are kept as low as possible so that we all remain profitable and sustainable in this difficult economic environment.”
Positive outlook
The business saw an increase in capital into its brewery, which included an investment in solar energy to reduces its exposure to increases in energy prices. It has also announced four new appointments to its sales team, bringing the total number of new roles created by the brewery since the pandemic to 18.
Bradbury added: “Despite the economic headwinds that have been synonymous with this decade, we retain a positive outlook for the business for both this calendar year and looking forward longer term to our third century of brewing legendary beers.
“Our continued success remains grounded in consistently excellent beer quality and growing revenue through strong brand equity and a broadening of our customer base.
“We look forward to celebrating our bicentenary in 2027 with everyone from our drinkers to suppliers, employees to customers, who have all played a key part in helping T&R Theakston become a 200-year-old, family-run, independent brewery.”
