Rye River Brewing Company has seen its domestic performance grow by 21% in 2019, its latest financial report shows.
The Kildare-based distiller recorded an operating profit of €154,934 during the period
Top line sales saw a growth of 8.3%, which delivered an earnings before interest, taxes, depreciation, and amortization (EBITDA) of €743,345 last year.
During the 2019 financial year, Rye River Brewing Company saw export volume account for 51% of total sales.
The company currently brews in excess of 30,000 hectolitres of beer annually. In 2019 the brewery continued to invest in its brewing capacity and capabilities, adding three new 10,000L vessels.
"While COVID-19 has impacted the business since March 2020, our production facilities have remained fully operational and delivered record brewing levels, demonstrating the resilience of our team and our agile production processes, ensuring we continue to consistently deliver great beer,” said Tom Cronin, founder and managing director of Rye River Brewing.
Cronin said that, notwithstanding the impact and unique challenges associated with COVID-19, the company is 'extremely positive looking ahead to the rest of the year.'
"Our strong retail domestic performance in the first half of 2020 and our reliable supply chain performances have meant that our revenues are still on track to reach our 2020 targets, allowing us to provide job security to our 53 employees, which we intend to grow throughout 2020,” he added.
Since the establishment of the brewery in 2013, Rye River Brewing has received 154 awards.
The distiller produces beers under the flagship brand McGargles, as well as supplying the following award-winning and exclusive craft beers - The Crafty Brewing Company, Grafters, Solas, Rye River and Rye River seasonal.
Rye River Brewing currently exports beer to 27 markets.
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