Award-winning Lancaster Brewery has filed record pre-tax profits of £667,000 in 2017/2018 – up a massive 88 per cent year on year.
And it has announced significant investment plans for next year.
Lancaster Brewery – which also owns venues including The Brewhouse & Tap and The Sun Hotel & Bar in Lancaster – saw strong profits across the group.
Much of the group’s record profits were down to improvements made in the brewing plant over the past seven years – such as new cooling air systems, conditioning tanks, the SALSA accreditation and a raft of other projects .
They have led to consistent quality levels and resulted in boosted sales of cask and bottled beer across the UK and overseas.
The group has continued its policy of investing around 80 per cent of total profits into venue improvements, long term debt repayment and exploring new brand ventures.
Investment within the brewery during the last financial year included new brewing kit, new delivery vehicles and a significant increase in the cask population.
Across its venues, 2017/2018 saw a continuation of its rolling bedroom improvement programme,
Director Phil Simpson, said: “We’ve had another really good year in an increasingly competitive and complex market.
“We now employ around 130 dedicated individuals and together we have developed a positively robust and progressive company.
“Whilst we have seen record profits this year, we will put nearly all of that right back into the business, as we have done in previous years. Our aim has always been to be the best in terms of product and service.”
Matt Jackson, co-director, said: “The brewery has had another superb year. Our overall sales were up 11 per cent and profit increased by over 30 per cent, which is ultimately all down to the quality of our beer.”