Innis & Gunn reports 22% rise in annual turnover
Scottish craft brewer Innis & Gunn has reported a sharp rise in annual turnover, helped by strong sales growth in international markets.
The Edinburgh-based company said revenues climbed by 22% to more than £14.3m last year.
The brewer also made a pre-tax profit of £331,000, having reported a loss of £275,000 the previous year.
Innis & Gunn said it was "well on track" to reach its target of £25m in turnover by 2018.
The firm plans to treble production at its new Perth brewery over the next year.
Last year it sold 2.2 million cases of beer for the first time.
It included sales of the Inveralmond Brewery brands which were successfully integrated into the Innis & Gunn business in 2016.
Canada continued to be the company's largest export market, delivering just over a fifth of total volume for the business.
In France, almost 600,000 bottles of Innis & Gunn beer were sold in the first year of a new joint venture with SIP Drinks.
Last year, the brewer launched "beer kitchens" in Dundee and St Andrews, having opened its first bar and restaurant in Edinburgh in 2015. It has since added a fourth premises in Glasgow.
The company said it planned to open more bars, adding that it was in "advanced negotiations" over sites in the UK and overseas.
Expansion is being supported by an equity crowdfunding campaign which raised £2.4m.
Chairman Tony Hunt said: "2016 was an outstanding year for Innis & Gunn and the start of a planned transformation of our business.
"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."