C2 Investment Ltd, owners of Lancaster Brewery and a number of venues across Lancashire and Cumbria, has announced a 60 per cent increase in operating profits, to £659,000 for the year ending January 2016.
Sales increased by almost five per cent to £5.75m in the same period for the Lancaster based company, and pre-tax profits rose to £472,000, up 132 per cent on the previous year.
The group, which also owns the Sun Hotel in Lancaster, the Mill at Ulverston, the Duke of Edinburgh in Barrow and the tenancy of the Palatine in Morecambe, puts its success down to continued investment in its products and venues, as well as improvements behind the scenes.
Phil Simpson, C2 Director said: “We’ve had a fantastic year, with all our venues making a great contribution.
“We launched a new cocktail bar in Ulverston, refurbished twenty four of our hotel rooms, revamped the Sun Hotel and made a host of new improvements to our back office.
“We have also just finished adding another nine bedrooms to the Duke of Edinburgh Hotel in Barrow, giving it a total of 51 rooms now, and earlier this month we signed an extension to Roy Tenby’s tenancy at the Palatine in Morecambe, as he continues to develop that very busy pub.”
Matt Jackson, C2 Director, said of Lancaster Brewery: “Lancaster Brewery has had a very good year.
“We’ve won some fantastic contracts for our bottled beer, including a superb deal with Co-Op Retail, our cask beer has won awards right across the UK, the Brewhouse & Tap has hosted thirty two weddings, and we’re continuing to invest in new brewery equipment all the time, as we seek to make our beer the best in Lancashire. Not many breweries can boast that they mill their own malt, cultivate their own yeast, only use whole hops and spend over £50,000 a year improving and adding to its brewery plant – but we can.”
Jackson finishes: “We’re a healthy, successful company that ploughs its profits back into the business to ensure we continue to make great beer and offer first class venues and accommodation.
“This year alone we have spent over £400,000 sprucing up our estate. It’s been a brilliant 12 months and 2016/17 is looking even better.”
The company’s plans for 2016/17 include a revamp of the Sun Hotel’s bedrooms, new bedrooms for the Duke of Edinburgh, further investment in new product lines at the Brewery and a new restaurant and food initiative at the Mill in Ulverston.
C2 Investment employs over 130 staff on full and part time contracts in Lancaster, Ulverston and Barrow in Furness. Lancaster Brewery is one of the largest micro breweries in the North West of England.
It started out in a small unit in Caton Road, and grew rapidly, reaching production capacity in 2009. It took two years to raise the finance to enable the brewery to expand and move to its new premises at Lancaster Leisure Park.