The new boss of BrewDog has shelved plans to become a public company for the time being to focus on making the Aberdeenshire craft brewer more profitable.
James Taylor said an initial public offering was “not on the agenda at the moment” as the Ellon firm moved back into profit under its preferred metric for the first time since 2021.
A stock market flotation has long been expected from the Punk IPA brewer, with suggestions of a valuation of about £2billion.
The Times reports today that BrewDog’s net revenue, which does not include excise duty, for last year came in at £280million, which was flat on the previous 12 months.
The company said its adjusted earnings before deductions were £7.5million last year, compared with a loss of £2.5million in the previous year. It booked a pre-tax loss of £59.2million in 2023, which included an impairment charge of about £14million.
BrewDog declined to give a pre-tax figure for 2024 but Mr Taylor told The Times that there would be a loss under that measure and there would be no dividend paid for the year. He also said that the plan was to get back into top-line growth this year and improve profitability.
Brewdog - which runs more than 120 bars and hotels around the world employing about 2,400 people - was founded by James Watt and Martin Dickie in Fraserburgh in 2007.
Both men retain stakes in the business and are still directors but they have stepped back from day-to-day operations.
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