CRAFT beer pioneer BrewDog had grown sales 55 per cent in the latest period helped by its investment in bars in the UK and success in overseas markets.

The Ellon Aberdeenshire-based firm recorded £78 million revenues in the six months to June 30, compared with around £50m in the same period last year.

BrewDog appears to be reaping the rewards of its decision to grow its portfolio of bars in the UK at a time when pubs are closing across the UK.

The company said bar openings combined with the recent acquisition of the Draft House pubs estate in London and investment in the off trade had powered an 83% increase in UK retail sales.

Morrisons and Tesco have added 1,900 and 6,000 distribution points respectively in 2018.

BrewDog said its Punk IPA has been the best-selling craft beer in the UK off trade for the last three years.

Export revenues increased by 32% to £11m helped by the opening of nine bars in cities ranging from Seoul in South Korea to Columbus in the US state of Ohio.

James Watt, who founded BrewDog with Martin Dickie, said the company was at a key point in its history.

“We’ve established a solid and rapidly growing presence in the UK and the demand from Europe shows no signs of waning,” said Mr Watt. “We’re making significant inroads in Asia and Australia, which I believe will begin to bear fruit in 2019. Our US business is expanding at breakneck speed.”

This week BrewDog opened its first “craft beer hotel” in America on the site of its brewery in Columbus, with beer taps in each room.

It is building a brewery in Brisbane, Australia, which is due to become operational in early 2019 and has announced plans to develop one in China.

In April last year BrewDog raised £100m to fund global expansion from US private equity firm TSG Consumer Partners in a deal that valued it at £1 billion.

The company did not provide details of first half profitability yesterday.