Independent Scottish brewer Innis & Gunn has hailed 2016 as a transformational year for the business as it revealed boosted turnover by 22%, and profit by 25%.
The news means it is on track to reach its goal of £25 million in turnover by 2018, it said. Turnover rose from £8.5m in 2015, to more than £14.3 million during 2016, while profit rose from £6.8m to £8.5m.
Sales volume passed 2.2m cases for the first time, during what was the brewer’s 13th consecutive year of volume growth. Over the last five years volume has increased by 175%, including sales of the Inveralmond Brewery brands which were successfully integrated into the Innis & Gunn business last year.
'2016 was an outstanding year for Innis & Gunn and the start of a planned transformation of our business,' Tony Hunt, chairman of the board of Innis & Gunn said.
'We acquired our first 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.'
Hunt added that the company was looking overseas to further boost growth. It has signed distribution deals in France, China, Hong Kong and Taiwan.
Canada continues to be the largest export market, delivering just over a fifth of total volume for the business. Almost 600,000 bottles of Innis & Gunn beer were sold in the first year of the new joint-venture with SIP Drinks in France, and volume is expected to double in this market in the next 12 months.