Brewery sees profits fall by more than half
Lancashire brewery Thwaites saw revenues grow by five per cent to just under £100m last year.
Despite the increase in revenues the brewery saw its profit before tax more than halve to £4.5m from £9.8m.
The firm said the drop was a result an adverse mark on market valuation on a swap contracts of £2.5m and one-off pension costs of £1.2m.
Thwaites said it has had a good year and sales have increased in all areas.
The results have come to the end of several long-term projects and completed a three-year period of investme... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...