St Austell Brewery has reported a 13.2% increase in annual turnover to £153.2m and a 5.2% increase in operating profit before other items to £14m in the 52-week period to 31December 2016.
During the year, the 178-strong pub operator and brewer invested £25.9m in capital expenditure, of which £16.7m was on new acquisitions.
These acquisitions included the purchase of Bath Ales.
Will Michelmore, non-executive chairman of St Austell Brewery, said: “This acquisition supported our strategy to strengthen and extend our presence in this important trading region. The company has also added new sites to its pub portfolio during the year as well as investing in our production and distribution facilities and refurbishing and improving our pubs and hotels.”
James Staughton, chief executive of St Austell Brewery, said: “It has been an excellent and historic year for the company. The acquisition of Bath Ales was a logical step towards our strategic objective of having the best pub estate and premier beer brands in the South West of England. A review of our strategic ambition led to the acquisition of Bath Ales whom we have long admired. Their pubs and beers complement those of St. Austell and our integration plans are on track.
“Our strategy is to continue to invest for the long term and ensure that we remain focused on delivering wonderful distinctive experiences through great products and services, conscious innovation, measurement and the scaling of what works. The company’s continued success relies on our employees and licensees and I thank them all for their hard work, dedication and relentless commitment to delighting our customers.”