Manchester headquartered family-run brewery Joseph Holt has revealed a boost in turnover and profit.
In financial results published this month, the Joseph Holt Group reported turnover increased by five per cent to £68.7m for the year to December 31, 2018.
Results showed gross profit also increased by around 5 per cent to £44.7m, while operating profit increased almost 20 per cent to £4.1m.
Profit before tax was up 40 per cent to £4.2m in 2018.
The brewery, established in 1849 and celebrating its 170th year, attributed the increase in turnover and profit to new products, popularity of existing lines, its range of ale and a series of acquisitions and refurbishments.
It invested £1.7m in refurbishment projects during the financial period.
Chief executive Richard Kershaw said: “Thanks to dynamic innovations in the ale we produce and the pubs we run, more and more people are enjoying our pubs and products.
“We are delighted so much hard work by our excellent employees has paid off and look forward to even more exciting plans for the brewery in the coming year.”
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The report said brewery volumes had also increased in the financial period, with an 8 per cent increase in its own draught products.
In a chairman’s statement, the group said its expectations had been “tempered by current economic uncertainty”, including the effects of Brexit, which it said is a “concern for the economy as a whole and the hospitality and brewing industries in particular”.
As a result the board proposed a dividend of 60p per share - an increase of 3p per share - paid in May.
The group have recently acquired Shamrock in Ancoats and is set to open a microbrewery at Manchester airport's new £1bn ‘super terminal’.