Pub 2610 p18 city 21/10/09 16:07 Page 18
18 Monday 26/10/09 thePublican www.thepublican.com
This Week City & Business
Scottish brewer to offer 10,000 shares at £230 each in ‘Equity for Punks’ deal
BUY INTO BREWDOG...
By Hamish Champ between ourselves and the people
hamishc@thepublican.com who drink our beers”.
The funds raised will be invested
BREWDOG, THE maverick brewery in a new brewing facility in Aberdeen,
responsible for producing the UK’s which the company describes as the
strongest beer, is to invite the public “world’s first carbon-neutral eco-
to invest in the company via the brewery”.
internet. BrewDog hit the headlines earlier
BrewDog, founded in Aberdeen two this year with its 18.2 per cent ABV
years ago by James Watt and business bottled beer called Tokyo. In the
partner Martin Dickie, will offer wake of the Tokyo furore, it
10,000 shares in the group at £230 produced a 1.1 per cent ale called
each. The offer represents 10 per cent Nanny State.
of the company’s value. In addition to offering the shares
Investors will be limited to £9,000- online, BrewDog has also seen two
worth of shares per application and US investors take minority stakes in
shares will rank equally for dividends the business.
alongside existing shareholders. The Keith Greggor and Tony Foglio,
stock won’t be traded on the stock both drinks industry veterans, have
exchange, instead there will be also joined the brewer’s management
‘matched bargains’ available for team with a view to growing sales
shareholders to sell their investment. and distribution in the US and other
Watt and Dickie claim the share markets. James Watt (seated, left) and Martin Dickie
deal, labelled ‘Equity for Punks’, is a BrewDog posted a profit of £9,817 (seated, right) with investor Keith Greggor (centre)
first in Europe, and would “shorten in the six months to the end of July are inviting investment with an online share offer
the distance as much as possible this year, on turnover of £851,000.
SABMILLER UK VOLUMES UP
SOFT DRINKS
SALES DOWN
INTERNATIONAL BREWING giant Group revenue was supported by a The Russian beer market, heralded
SABMiller said despite difficult range of price increases which came by some brewing groups as a poten- BRITVIC SAID sales of its soft drinks
trading its like-for-like UK beer into effect in the previous year. tial goldmine only a year or so ago, in UK pubs fell 2.5 per cent in the year
volumes grew 15 per cent in the first European lager volumes were fell six per cent as local consumers to the end of July.
six months of the year. down six per cent on an organic spent less on the product. The drinks group said on-trade
Overall organic lager volumes for basis, “as adverse conditions in the SABMiller’s volumes in the country sales volumes fell 1.6 per cent in the
the first half fell one per cent, with region continued to depress were down 12 per cent, the group three months to the end of July, but
soft drinks ahead by the same figure. consumer spending”. said. that the month itself had seen “an
encouraging volume increase” of 0.4
per cent.
BRULINES BARRACUDA PLANS REVAMP
In a trading update, Britvic reported
total turnover for the year up 5.6 per
STILL STRONG
cent to £978.8m.
FRESH FROM completing a debt-for- Meanwhile, the group’s UK carbon-
equity swap over the summer ate sales were up 9.1 per cent in the 12
BEER FLOW monitoring group Brulines managed pub group Barracuda has weeks to September 27, 2009, with
has reported that trading across its announced a major programme of still drinks up 5.6 per cent.
core business had “remained strong” refurbishments across its estate. Paul Moody, Britvic’s chief execu-
in the first half of the year. The company said it will have tive, said: “Strong revenue growth
Despite the problems facing pubs, completed 22 major projects between achieved by selling more branded soft
AIM-listed Brulines said it had been August and December 2009 costing drinks at higher prices characterises
“encouraged” by the commercial around £3m, “in readiness for the key Barracuda boss Mark McQuater our performance.”
success of its i-draught technology – festive season”. While the visibility of future market
which monitors the volume, tempera- The estate programme includes two performance was “poor”, Moody said
ture, flow rate and liquid type going new-look Varsity trial refurbishments, nancing arrangement has allowed us the group was set to deliver “another
through a pub’s beer lines. plus the roll-out of the new Smith & to deploy significant cashflow into strong set of results for the year
“Despite ongoing sector cost and Jones format, which Barracuda said our existing estate ensuring our Smith ahead”.
capital pressures, the group has been had proved highly successful in the & Jones and Varsity pubs remain
experiencing further demand for its trial sites established earlier this year. market leaders.”
services,” Brulines’ chief executive The multi-million pound investment In July, Barracuda announced a refi-
James Dickson said. Brulines’ interim programme will continue “well into nancing deal with existing investors
results for the half year to September 2010”, the group said. which cut debt from £247m to £163m
30, 2009, would be in line with mana- Mark McQuater, Barracuda’s chief and saw senior management retain its
gement expectations, he added. executive, said: “The successful refi- 23 per cent stake in the business.
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