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Profits up at Wiltshire brewery, as it looks to increase number of pubs

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Wadworth BreweryWadworth BreweryProfits are up at Devizes brewery Wadworth, which has announced its intention to increase the number of pubs it owns and manages.

For the year to 30 September 2017, Wadworth and Company posted turnover of £68m, up from £62.7m in the previous year.

Earnings were also up from £9.52m to £10.8m with the company investing in six new pubs, taking the total number of managed outlets to 54, with tenanted properties up to 159.

Total managed house sales increased by 16.2 percent, while average managed house profit per pub has increased 5.8 percent on a like-for-like basis.

A statement accompanying the company's results said: “This has been a second year of solid progress for Wadworth as we have continued to develop the company for the long term. This year we have established a firm foundation for the future.

“From 2018, our aim is to selectively add new managed pubs to our estate, while continuing to invest organically to deliver consistent profit growth.

"The set-up phase of our strategy has taken a little longer than we first envisaged, but we believe it is important to get it right and we continue to invest in a number of areas, including the brewery and our support centre, to bring them into the modern era and have established a solid business infrastructure with a much-improved people capability.

"Undoubtedly, we are stronger and better positioned to deliver the growth we aspire to over the coming years.