Wadworth’s new brewery is in the final stages of completion, the company has said, revealing its results for the year ending 31st December, 2022.
“We started the build of the new brewery in May 2022 and have made excellent progress towards creating a facility that will give us considerable cost savings and flexibility on product range, including a canning and bottling facility,” said Wadworth chairman Charles Bartholomew.
“We are into the final stages of the project and have managed to ensure it is still on time and on budget, even with the current cost pressures on building works.
“As the new brewery is expected to be up and running more quickly than initially anticipated, we have accelerated the depreciation on the old brewery, which in turn sees additional depreciation of £1.3m recognised in this year’s accounts.
“We exchanged contracts on part of our current brewery site with a local property developer in November 2022, who will be looking to build a predominantly residential-led scheme. The contract is subject to planning and we would hope to complete at the beginning of 2024.”
Turnover rose to £36,319,000, compared with £25,134,000 the year before. Ebitda was up from £1,645,000 to £3,644,000.
