BrewDog falls to £37m loss as sales falter
According to The Guardian, it comes as the group’s drinks have been axed from 2,000 pubs as customers turned to rival brands
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BrewDog fell to a pre-tax loss of £36.6m last year as sales stalled amid the departure of founder James Watt as chief executive.
According to The Guardian, it comes as the group’s drinks have been axed from 2,000 pubs as customers turned to rival brands.
Over the year, sales reportedly grew by less than 1% to £357m, while the group also shut 10 of its own bars. Its pre-tax losses were down from a £59m loss the prior year, but the group still fell to a £34.5m loss after tax.
It comes as Watt’s co-founder, Martin Dickie, also announced his own departure last month.
Its private equity investor, TSG Consumer Partners, has reportedly agreed to lend the group a further £20m.
James Taylor, who has succeeded Watt as chief executive, said the company had “achieved our highest ever share of the UK beer market, selling the equivalent of 4.5 cans of beer every second in UK supermarkets”.
Earlier this year Brewdog announced the promotion of chief financial officer (CFO) Taylor to the role of CEO.
Alongside Taylor, Lauren Carrol was appointed as chief operating officer (COO), moving up from her chief marketing officer (CMO) position.
BrewDog has been contacted for comment.
