Camerons Brewery has reported a welcome return to profit after a year impacted by the pandemic.
In the 8 months to Dec 2021, turnover was £50m, compared with £22.9m for the full year to 2 May 2021. Profit after tax was £0.4m, which was nearly c£8m higher than the prior year loss of c£7.4m.
The North East brewer, which has 34 managed and 43 franchise/L&T sites, was allowed to trade outdoors from 12 April 2021 and then indoors from 17 May, and this significantly helped with its ability to return to generating profits.
Whilst trading was on an upward trajectory through 2021, the company was slightly derailed mid-December by the emergence of Omicron and the associated restrictions reimposed on the sector, just as it was entering the busiest time of the year.
Pub trading is strong across all divisions and the group continues to win new brewing, canning and bottling contracts.
Camerons is confident of further improved trading during 2022 and expects to be at a pre-pandemic level later this year.
CEO Chris Soley (pictured) commented, “We are immensely proud of the resilience our team has shown to help navigate us through the challenges that Covid has presented.
'Alongside the governmental support, we have worked closely with our external stakeholders to ensure we emerge from the pandemic in a position of strength and are now planning for further growth.
'The return to profit provides a solid financial platform to build upon for the future and we are delighted to once again be looking forward and investing in the expansion of our brewing and retail business.”
John Foots, Finance Director, noted, “We are extremely pleased to report a strong set of results. The last two years has been a very challenging time for the industry and our company, and I’m delighted by the resilience our staff have shown to get us to this position.
'We are very grateful also to our customers, suppliers, and wider creditor base, particularly our bankers and HMRC for the faith they have shown in our business and we look forward with confidence to another successful year. Onwards and upwards!”