Innis & Gunn profits up 25%

Scottish brewer Innis & Gunn has announced strong figures from an “outstanding” 2016 and says it is on track to meet its turnover goal in 2018.

The brewer reported that its group turnover increased by 22% to more than £14.3 million in 2016, up from £11.8m in 2015, while annual gross profits increased by 25% from £6.8m to £8.5m.

Sales volumes passed 2.2m cases for the first time in what was the 13^th year of consecutive growth for the Edinburgh-based brewer.

Over the last five years volume turnover has increased by 175%, including sales from the Inveralmond Brewery, whose brands were integrated into the Innis & Gunn business last year.

The company said in a statement that the figures show it is on track to meet its goal of £25m in turnover by 2018. It also wants to treble its beer production over the next 12 months at its Perth brewery.

Sales have been given a boost by overseas markets. Canada is the brewery’s largest export market, representing a fifth of total volumes, while a new joint venture with SIP Drinks in France saw 600,000 bottles sold in that country in 2016 with volumes projected to double in the next 12 months.

Sales in the domestic market also remained strong, with sales of Innis & Gunn lager almost quadrupling in the last two years.

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, 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.”