Innis & Gunn reports "exceptionally strong" UK performance in 2016
Innis & Gunn increased turnover by 22% last year to more than £14.3m, with gross profit also up 25% to £8.5m.
The Scottish independent craft brewer said it was the 13th consecutive year of volume growth, which means over the last five years volume has increased by 175%, including sales of the Inveralmond Brewery brands, which were integrated into the Innis & Gunn business last year.
Last year was a transformative year for the company, whereby it purchases the Inveralmond Brewery – now the Innis & Gunn Brewery – in Perth, as well as the Inveralmond portfolio of beers; it also opened two new Beer Kitchens in Scotland, and it signed distribution deals overseas. In addition the company raised £2.5m equity in crowdfunding.
The company said it is “well on track” to reach its publicly stated goal of £25m turnover by 2018 and it also plans to treble its beer production over the next 12 months at its Perth brewery.
In the UK the brewer saw an “exceptionally strong” performance for Innis & Gunn Lager, with sales quadrupling over the last two years. 2016 also saw the brewer launch Session IPA.
Tony Hunt, chairman of the board of Innis & Gunn, 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, throughout 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.”