Meantime Brewing Company sees pre-tax earnings increase by 29%
The popularity of "modern craft beers" saw the Meantime Brewing Company's pre-tax earnings (EBITDA) increase by 29% in 2012, the company has announced.
Brewery volumes from the Greenwich-based firm increased year on year by 60%, while retail performance improved by 7.5% in the same time.
Nick Miller, CEO of Meantime Brewing Company said: "We had a very strong 2012 across all areas of the business substantiating our significant investment in future growth."
"Continued innovation through 2013 and beyond is the key to our strategy as drinkers demand more product differentiation and quality in their pint.
The modern craft beer sector celebrates all styles of beers and consumer receptiveness to this is reflected in the results we achieved in 2012."
The first company in the UK to deliver "tank beer" (under the brand Meantime Brewery Fresh, with pub group Young's), the brewery takes its inspiration from the Czech "tankova" bars, which sell unpasteurised and unfiltered beer directly from tanks. This is said to keep the beer as fresh tasting as when first brewed.
Meantime also produces London Stout, India Pale Ale and flavours such as Chocolate Porter and Raspberry Wheat Beer, while the True Brew of London will soon take hops from across the capital to create the company's first "crowd-sourced" beer.
Miller added: "The company has achieved so much through a period of change and I am proud of the team in the way they have embraced our company's vision to change the way people think about beer."
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