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Pub company raises a glass to rise in profits and turnover
INDEPENDENT brewery and pub operator Charles Wells has reported increases in both profit and turnover as it reflects on its 140th year.
The Bedford-based brewer ended a milestone 2016 on a high, chief executive Justin Phillimore (pictured) told the company’s AGM.
The profits rise came from managed houses, investment totaling £3.7 million in leased and tenanted pubs and extended and new contracts across the company’s world beers portfolio.
Global brand Estrella Damm extended its UK distribution contract with Charles Wells by five years and Mr Phillimore highlighted “excellent profit growth across our managed houses in the UK and France.”
The year also saw the launch of Charlie Wells Triple Hopped IPA and Bombardier Pale Ale.
Turnover increased by £4.8 million while profit rose by 1% on 2015 to £7.1 million.
Charles Wells France opened two new pubs and reported an increased operating profit of 126%, while the company invested £1.2 million in the £1.2m was invested in the brewery’s brewhouse.
Alongside the Estrella Damm contract extension, Charles Wells signed UK distribution contracts with USA craft beer Founderd and Devil’s Peak Brewing Company, the highest rate d brewer in South Africa.
The company also unveiled a new advertising campaign for its flagship Bombardier beer and a new Pizza, Pots and Pints theme in two of its pubs, a concept Charles Wells plans to roll out this year, Mr Phillimore said.
He added: “We will be focusing investment in our managed houses, accelerating roll-out of our Pizza, Pots and Pints concept and actively looking for more sites across France.”
The company has also created a new five-point continuous development plan for licensees to start after their initial 12-month new business training.
Mr Phillimore said: “Leased and tenanted pubs will see greater training and guidance for anyone who needs it and we will continue to support them with a wider portfolio of beers to entice customers in and increase their own profits.”
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