SA Brain & Co has posted strong financial results for the year to 30 September 2012, with sales up 6% and EBITDA growth of 2.5%.
The Cardiff-based brewer today unveiled sales of £120.7m, up £7.1m on the previous year’s figure, EBITDA of £11.9m and underlying operating profit of £4.5m.
Brains’ managed house estate enjoyed like-for-like sales growth of almost 6%. Cask ale volumes were up by 1.8% and packaged beer sales were up by 17%.
The Coffee#1 chain, acquired by Brains in September 2011, also grew strongly with overall sales up by 21%, and like-for-likes up 3.2% percent on the previous year.
Chief executive Scott Waddington said he believed the results defied a market that is still suffering from low consumer confidence. “Despite the economic climate we have continued to take the business forward delivering a strong growth in turnover and a creditable improvement of EBITDA,” he said. “Our growth in revenues from our managed houses is among the industry’s very best and the estate’s performance has been recognised by the industry – we secured both Best Managed Pub Company of the Year and Best Food Offer at the Publican Awards in March.”
He added: “Coffee#1 has performed particularly well. We added 11 stores during the trading period and by the end of September last year we had 26 in total. Since then we have added a further five and have another four due to open over the summer.”
Waddington said that sporting events were an important factor in the company’s continued success. “Sport is a powerful social driver in South Wales and sports sponsorship is a key focal point of our marketing activity. We remain the official ale of the Welsh Rugby Union, the Football Association of Wales and Glamorgan Cricket,” he remarked.
The establishment in May 2012 of the company’s new craft brewery was another highlight of the year, according to Waddington, who said: “The response to the range to date has been excellent. We have already achieved national listings for the bottled ranges and extended distribution for our cask and keg products.”
Waddington expressed cautious optimism for the financial year 2012/13, saying: “Trading in the current financial year to date has been difficult, but is broadly to our expectations. We will therefore continue to focus on controlling costs and driving growth through our core pub business.”
