INNIS & Gunn has declared it is “witnessing post-Covid recovery” after challenges presented by coronavirus restrictions and global supply-chain issues resulted in a marginal fall in revenue last year.
The Edinburgh-based brewer and bar firm reported a one per cent fall in turnover to £21.1 million in the year ended December 31 as the company was impacted by the Omicron outbreak and delayed year-end shipments.
However, the company said its performance last year was “encouraging” amid the challenges and declared it was upbeat over the current outlook, following the opening of the on-trade.
Innis & Gunn has four brewery taprooms which have seen draught sales gradually return to “pre-pandemic normality”. And it underlined a strong performance in the off-trade, where it said its eponymous lager is the number one craft beer brand in Scotland.
The company said it had incurred costs during the year related to rebranding projects, including the redesign of its core beers. It also removed single-use plastic packaging on its canned ranges, moved to new corporate headquarters at Orchard Brae in Edinburgh, and also became a Living Wage employer over the period.
Chief executive Dougal Sharp said: “Our performance in 2021 has been extremely encouraging, although revenues ended marginally down on the previous year, in half two we were profitable despite the continued disruption of lockdowns, restrictions and the well-documented UK and international supply chain issues.
“We are witnessing post-Covid recovery on the back of the on-trade reopening, consumers are returning to bars despite growing inflationary pressures on spending and costs.”
Mr Sharp added: “Whilst we continue to face an uncertain outlook for consumers and businesses, 2022 is the year in which we will build. We are committed to growing our brand with a focus on innovations, creativity and building our lager distribution in bars across the UK. We are gradually extending our UK and overseas customer base, which reduces our dependence on any one single market or customer.”
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