Brewery reports record-breaking turnover despite industry issues

T Austell Brewery, the South West’s leading independent brewer, hospitality and drinks wholesale company, has reported strong financial performance with a further year of record breaking turnover and underlying profit growth of 8.7%.

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The family-owned company has also unveiled its first significant rebrand in 70 years.

The strong trading performance, and increased turnover of £231 million, converted into an 8.7% increase in EBITDA (earnings before interest, tax, depreciation and amortisation) to £22.4m, demonstrating the positive momentum St Austell Brewery generated in 2024 despite the continued economic headwinds.

Gerard Barnes, chairman of the brewery, said: “I am pleased to report that despite the sustained challenges in the sector, the company has once again achieved record turnover, and importantly, has also converted this performance into increased EBITDA.

“While inflation has eased, a combination of fragile consumer confidence, higher taxation, the lowest number of visitors to the South West in a decade and a second summer of disappointing weather conspired to provide a challenging backdrop in 2024.