Independent brewer, Charles Wells has posted a turnover hike of £4.8m, alongside a number of significant investments as it reported its 2016 results.
The company, now in its 140th year of brewing, invested £3.7m in its leased and tenanted pubs during 2016, which equates to an average of £19,689 per pub. It also invested £1.2m in its brewhouse. Profit was up by 1% on 2015 at £7.1m. Charles Wells France opened two new pubs and reported an increased operating profit of 126%
Spanish brewer Estrella Damm has extended its distribution with the company for a further five years. While new distribution contracts were also signed for US craft beer Founders and South Africa's Devil’s Peak Brewing Company.
Charles Wells chief executive, Justin Phillimore, said: 'We had a great year celebrating our 140th year of brewing beer. Highlights included excellent profit growth across our managed houses in the UK and France, the launch of Charlie Wells Triple Hopped IPA and Bombardier Pale Ale.'
He added that for 2017 the company will be focusing investment in its managed house business, accelerating the roll-out of its Pizza, Pots and Pints concept, and actively looking for more sites across France.
'Leased and Tenanted pubs will see greater training and guidance for anyone who needs it and we'll continue to support them with a wider portfolio of beers to entice customers in and increase their own profits,' said Phillimore.