SA Brain, the Cardiff-based brewer, reported 21% growth in pre-tax profit for 2003, crediting investment in branding and the pub estate. The company saw turnover for the year increasing by 13.5% to £96m from £84.4m, with underlying profit before tax up 21% at £7.2m. Scott Waddington, the company's chief executive, said: "Given our commitment to substantial, continuing investment, we are not expecting the same levels of earnings seen in the past couple of years. "We are, however, confident that our strategy places us in a strong position." The company added six properties to its managed houses division, taking it up to 226 sites. The division saw sales growth of 13.5% year-on-year, against 5% in the tenanted division. Food now accounts for around 25% of retail takings, Brain's said. Brain's now owns 226 pubs and employs 1,950 people, up from 1,785 last year.