BrewDog continues bar expansion as profits soar


brewdog sheffield

Brewer and bar operator BrewDog has reported a 383% jump in profits on the back of investment in expanding its craft beer bars.

Net profit reached over £2.3million in 2013 while annual turnover was up 70% to £18,043,000, according to its newly released audited accounts.

In 2013, the company opened three new BrewDog bars, including its first overseas bar in Stockholm. This year, it has already launched four new bars in Sheffield (pictured), Tokyo, Sao Paulo and Gothenburg bringing the worldwide bar count to 17.

BrewDog plans to launch a further seven bars this year including Dundee, Liverpool and Battersea in south London as well as Rome.

In January 2013, BrewDog opened a new brewery in Ellon, Aberdeenshire, which increased production capacity from 25,000 hectolitres to 250,000 hectolitres per year. It is now investing £4million in expansion of the brewery that is due to be completed by August 2014.

In April this year, the brewery launched its first in a series of off-licence shops, called BottleDog, in London’s Kings Cross, and has confirmed a further four UK retail sites to be opened before the end of the year.

BrewDog co-founder James Watt said: “While tired pubs are facing closure and big breweries are reporting disappointing sales, the craft beer revolution has never been stronger, and our continued growth shows just how much the UK beer scene is changing. And we are determined to change it much, much more.

“This is a hugely exciting time for BrewDog. With bars opening up all over the globe, and our plans for more BottleDog shops, the sky really is the limit. Our brewery expansion will help us keep up with demand as the insatiable thirst for craft beer grows.”

BrewDog’s growth is in part funded by its crowd-funding scheme Equity for Punks which completed its third round in 2013 raising £4.25million in less than six months.

James added: “2013 was a brilliant year for us and our financial results show that. We launched our new state-of-the-art brewery part-funded by Equity Punks, opened three more awesome bars including our first international bar, and welcomed 8,000 new Equity for Punks to our business.

“We could never be where we are today without our awesome Equity Punks, and we are thrilled to be sharing our growth with our 14,691 shareholders. Our success is their success. They have put their trust and invested their hard-earned cash in us, and we want to continue to build the business to ensure we repay their loyalty.”


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