Brewery sees profits rise - sales boost and more expansion for Charles Wells

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Bedford brewery and pubco Charles Well Ltd saw its annual profits rise 24 per cent last year.

The company said sales income rose by £5million to £187million in the financial year to September 27, 2014.

The figures came as the company also announced it is rebranding its Wells & Young’s Brewing Company with the Charles Wells name.

A heightened interest in its beers, particularly craft beers such as Charles Wells DNA and Youngs London Stout, has seen sales grow at home and abroad.

And with its bars in France performing well, there are plans to open new sites this year.

Chairman Paul Wells said: “Our performance this year has been in line with expectations and we have invested for the future through investment in the brewery as well as the pub estates in the UK and France.

“Our international sales and pub operations have demonstrated that growth is possible at home and overseas, despite the difficulties of the global economy and our wine company has also delivered excellent growth.”

He added: “Consumer tastes continue to develop and therefore innovative new products along with quality pub sites that consumers wish to frequent is essential.”

The company is keen to report it has high tax obligations with 42 per cent of turnover paid in tax, in addition to VAT payments of £17.9million.

Looking ahead to 2015, Mr Wells said: “The board is delighted to announce that Bob Ivell will join as a non-executive director of Charles Wells in January 2015.

“We are confident and optimistic about the future as we move forward with our brewing and pub businesses which transfer back under the name of Charles Wells next month.”