Scottish craft brewer Innis & Gunn is starting to see the benefits of a “rebooting” of its operations.
The company said the transformation programme it commenced last year had set it on the right track to “grow substantially in reputation and revenue” over the next five years.
Companies House records show Innis & Gunn Brewing Company Limited (IGBCL) generated revenues of £13.11 million in the year to December 31, up from £11.78m the year previous.
Pre-tax profits surged in the period from £13,000 in 2015 to £550,000.
Accounts for the Edinburgh-based firm’s parent, Innis & Gunn Holdings Limited, have yet to be published.
IGBCL director and group chairman Tony Hunt said the company had made progress both in the domestic marketplace and its operations overseas during 2016, and the foundations were in place for further growth in the current year.
He also hailed last Spring’s acquisition of Perth’s Inveralmond Brewery, saying it was an “ideal fit” as it gave IGBCL its first foothold in the £1.7 billion on-trade cask ale market and £300 million off-trade British Premium Ale category.
The group has previously stated its target to increase revenues to £25m in 2018 and that will be partly achieved by a trebling of production at Perth.
“2016 was an outstanding year for Innis & Gunn and the start of a planned transformation of our business,” Mr Hunt said.
“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.