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CAMERONS BREWERY RETURN TO PROFIT

CAMERONS BREWERY RETURN TO PROFIT

Camerons Brewery are very pleased to report a welcome return to profit after a year impacted by Covid.

 The North East brewer, which has 34 managed and 43 franchise/L&T sites, was allowed to trade outdoors from 12th April 2021 and then indoors from 17th May and this significantly helped with their ability to return to generating profits.

Whilst trading was on an upward trajectory as they progressed through the 2021 calendar they were slightly derailed by the emergence of Omicron variant in mid-December and the associated restrictions reimposed on the sector just as the brewer was entering the busiest time of the year.

The directors are very appreciative and have worked closely with our supportive bankers, HSBC, and wider creditor base as they progressed through 2021.

Pub trading is strong across all divisions and they continue to win new contract brewing, canning & bottling business.

Camerons are confident of further improved trading during 2022 and are extremely pleased with the progress that has been made.
They expect to be at a pre pandemic normal level of gearing later in 2022.

 

 

Financial Summary

In the 8 months to Dec 2021, turnover was £50.0m which compared with £22.9m for the full year to 2 May 2021
Profit after tax for the 8 months to Dec 2021 was £0.4m, which was nearly c£8m higher than the prior year loss of c£7.4m


Chris Soley, CEO at Camerons Brewery

Chris Soley, CEO 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 commented “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!”

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