Scottish craft brewer Innis & Gunn has reported 2016 as a year of substantial growth, increasing its turnover by 22% to more than £14.3 million, up from £11.8 million in 2015.
The Edinburgh-based brewer also increased its annual gross profit by 25% from £6.8 million in 2015 to £8.5 million last year. Sales volume passed 2.2 million cases for the first time.
This was the 13th consecutive year of volume growth, and during the last five years volume has increased by 175%.
The figures are representative of a transformative year for Innis & Gunn, one that saw the brewer purchase the Inveralmond Brewery – now the Innis & Gunn Brewery – in Perth, acquire the Inveralmond portfolio of award-winning beers and sign distribution deals in France, China, Hong Kong and Taiwan.
The announcement means that Innis & Gunn is on track to reach its goal of £25 million in turnover by 2018. The brewer also plans to treble its beer production over the next 12 months at its Perth brewery.
Innis & Gunn’s performance in international markets contributed significantly to the brewer’s growth in 2016. Canada continues to be the largest export market, delivering just over a fifth of total volume for the business.
In the UK, the company has seen sales almost quadruple over the last two years. In November 2016, it launched AdventureCapital, a crowdfunding campaign that raised £2.4 million and brought in 1,914 new shareholders.
The majority will go towards opening new bars, with the company in advanced negotiations over sites in the UK and abroad. Part of the capital has also been used to increase the capacity of the brewery and equip it to make the next generation of beers.
Innis & Gunn chairman Tony Hunt said: “2016 was an outstanding year for Innis & Gunn and the start of a planned transformation of our business. We acquired our first-ever brewery, opened new beer kitchens, launched some delicious new beers, achieved record sales volumes and won our 46th award for quality since 2009.
“To top it off, through our crowdfunding we brought nearly 2,000 new shareholders into the Innis & Gunn community. Most important of all, we laid the foundations from which we plan to double the size of this business over the next two years.”
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