Scottish craft brewer Innis & Gunn boosted profits by a quarter last year.
The Edinburgh-based brewer increased its annual gross profit from £6.8 million in 2015 to £8.5 million.
Annual group turnover was also up by 22% to more than £14.3 million.
Over the year the brewer bought the former Inveralmond Brewery in Perth, opened two new bars in Scotland, signed distribution deals in France, China, Hong Kong and Taiwan, and raised £2.5 million in equity crowdfunding.
Tony Hunt, chairman of the board, 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."
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules here