BrewDog profits soar 69%

By Arabella Mileham

Published: 02 April, 2015

Scottish craft brewer BrewDog saw profits soar 69% during 2014, on the back of strong demand for craft beer.

Operating profits at the self-styled "maverick" company jumped from £2m from £2.9m to £4.9 in the 12 months to and turnover was also up 64% to £29.9m compared to £18m the previous year.

The company attributed much of its growth came in part from its crowd funding 'Equity for Punks' scheme which raised £4.25m from investors in its third round, which closed in December 2013.

James Watt, co-founder of BrewDog described 2014 as an "epic year" for the company and the wider craft beer industry, and one which had seen it grow at "breakneck speed".

"Our success continues to prove that there is an insatiable thirst for great craft beer, and a huge opportunity for businesses doing things differently to thrive in challenging economic times," he said. "We were able to improve processes and efficiencies to ensure we deliver the optimum flavour experience every time."

In April the company opened its first craft beer bottle shop, BottleDog, in London, and launched 12 new bars. It also boosted capacity at its Ellon-brewery in Aberdeenshire, adding new fermentation capacity and new offices on the back of its crowdfunding exercise, and launched a new import distribution arm with the Stone Brewing Company.

It is planning to open more bars in the UK and overseas, including in Brighton, Norwich, Leicester, Berlin and Rome.

In 2013, the company was previously named the UK's fastest growing food and drinks brand by The Sunday Times Fast Track 100.

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