Charles Wells Ltd posts 24% rise in profits

05 January, 2015

Bombardier supplier Charles Wells has posted a 24% rise in profits for the year to September 27, 2014.

The Bedford-based brewer and pub owner saw profits after tax rise to £7.7 million from £6.2 million the previous year.

Sales rose £5 million to £187 million.

Chairman Paul Wells said: “Our performance this year has been in line with expectations and we have invested for the future through investment in the brewery.”

The brewer added that sales of own beers have been growing steadily as the heightened consumer interest in craft beer stimulated the beer market.

It said: “The introduction of several new beers to match this demand, including Charles Wells DNA and Young’s London Stout, has proved successful at home and abroad. The strategy of seeking growth in international markets continues apace and at the end of the financial year, these markets represented 17% of the brewery’s output.”

The brewer’s wine subsidiary Cockburn & Campbell also enjoyed its third consecutive year of growth, with sales up 16%.

Paul Wells added: “The board is delighted to announce that Bob Ivell will join as a non-executive director of Charles Wells in January 2015 and we are confident and optimistic about the future as we move forward with our brewing and pub businesses which transfer back under the name of Charles Wells next month.”

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