Cider firm sees a 23 per cent increase in revenues thanks to launch of new brands
Somerset cider maker Thatchers has revealed it saw a 23 per cent increase in turnover to £155.5m last year.
As a result profit for the year, after taxation, was £13.5m compared to £11.1m in the previous year.
Thatchers Cider is a fourth‑generation cider maker, established in 1904, and operating, as it has for the last 119 years, from its family farm in Somerset.
It is best known for its leading cider brands including Thatchers Gold and Thatchers Haze, sold throughout the UK in both the on- and off‑trade channels.
Thatchers Blood Orange is one of two recent launches that has helped reach new audiences, resulting in increased distribution in both the on- and off-trade channels.
Blood Orange Cider became the biggest cider launch of 2022, reflecting the market appetite for new fruit flavoured ciders.
The growth of the Thatchers range of premium ciders continues to out-perform the total cider market during this period, securing its position as the number one family-owned cider maker in the UK, and the country’s second largest cider maker, with a market share of 14 per cent.
“The dynamic of the cider market has continued to change,” said Martin Thatcher, fourth generation cider maker, “and it’s therefore been more important than ever to continue investing in our people, our products and nurturing close customers relationships.
“We have continued to see a disrupted market due to the continuing effects of Covid‑19 challenges and staff shortages, particularly within the hospitality industry, and more recent, highly challenging effects of rising inflation, energy costs and the cost‑of‑living crisis.
“This makes us more determined than ever to retain our focus on producing premium ciders in a sustainable way that represent value for money for our consumers.”
Thatchers has continued with its established programme of investment in its cider production facilities at Myrtle Farm.
During the year a further £12m was invested, together with a £14m commitment for the construction of an automated warehouse system.
The advanced, sustainably built warehouse will allow Thatchers to reach the highest levels of efficiency in its logistics operations, whilst providing increased on‑site storage capacity to meet customer demand.
The cider maker continues to invest for the future in the development of its Somerset orchards, and through a number of trials is determining the varieties of apple that will meet the needs of future consumer tastes.
These trials have included the planting of some 3,000 dessert apple varieties, which are now being monitored for their cider making potential.
