BrewDog profits soar as turnover hits £30 million

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CRAFT beer company BrewDog reported an “epic” year in 2014 as turnover reached almost £30 million.

The Aberdeenshire-based maker of Punk IPA saw profits soar 69% to £4.9 million as the demand for independently brewed beers showed no sign of slowing.

The company, founded in 2007, now ships drinks to 55 countries and boasts a global bar franchise.

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BrewDog reported an annual turnover of £29.6 million last year, up 64% from £18 million the previous year.

The brewery launched 12 new bars, including sites in Tokyo, Sao Paulo and Helsinki, and opened its first craft beer bottle shop, BottleDog, in King’s Cross, London.

It also established the BrewDog Development Fund, allocating up to £100,000 of its annual profits to helping other craft breweries get established.

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The company said its growth is due in part to its crowd-funding scheme Equity for Punks. It closed a third round of the scheme in December 2013 after raising £4.25 million from “fanvestors”.

Co-founder James Watt said: “2014 was an epic year for BrewDog and the craft beer industry as a whole.

“Our growth has shown that with a healthy disregard for the impossible you can achieve anything.

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“When we launched in 2007, we never expected to be where we are today, but 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.

“Our mission has always been to make other people as passionate about great craft beer as we are. The more people making, serving and drinking amazing craft beer, the better.

“For 2015 we have mammoth plans that will really set the world alight. You ain’t seen nothing yet.”

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