Brewer and bar operator BrewDog has reported £13m in pre-tax losses for 2020 as the impact of Covid-19 across the on-trade and its bar network hit volumes and revenue by around 50%.
Its financial accounts, filed with Companies House, reported revenue of £238m, up 10% from £215m in 2019, driven by significant volume increases across the UK and international grocery, convenience and e-commerce channels.
Chief executive James Watt said: "To grow our overall revenues by 10% despite the fact that the vast majority of our 100 bars were closed for huge chunks of the year (this was budgeted to account for 40% of revenue in 2020) and the global on-premise market was essentially closed is without doubt the most significant achievement in our short history."
More than 100 former employees signed an open letter criticising what they called a "culture of fear" within the business last month. The company has since appointed a consultancy firm to conduct a "full, unbiased review" of the business. It has also committed to recruiting for new roles to ease pressure on existing staff, who are to receive a 3% increase in salary.
However, trade union Unite claimed BrewDog has ignored its attempts to engage over issues raised by members concerning working conditions at the company.
BrewDog has more than 100 bars as well as hotels in Manchester, Ohio and Aberdeen, and plans to open further properties in London and Edinburgh.