Family-run brewer T&R Theakston has reported a pre-tax profit of £271,000 for 2024, up from £248,000 the previous year, marking its third consecutive year of fiscal growth. The company’s annual turnover rose by 7% to £8.8 million, driven by increased consumer demand and strategic product innovation.
The North Yorkshire-based brewery attributed its performance to heightened interest in both traditional and new beer offerings. Its core cask ale brands—Theakston Best, Theakston Old Peculier, and Theakston XB—all recorded growth in cask sales during the year. Additionally, 2024 marked the first full year of sales for Theakston Quencher, a 3.4% ABV beer developed in response to growing interest in lower-alcohol products.
In its annual report, the brewery underscored a cautious pricing strategy, aimed at supporting its pub partners amid ongoing industry pressures. This included efforts to manage cost increases and sustain accessibility for pub-goers.
Managing Director Richard Bradbury described the results as a reflection of the brewery’s commitment to quality and innovation. “These results highlight that our commitment to producing high-quality beer, supporting our pub customers, and listening to our consumers is not only the right thing to do but is delivering positive results for our business,” he stated.
Bradbury noted an 8% rise in cask ale volumes, driven by renewed consumer interest in the category. He emphasized the importance of meeting demand for both tradition and novelty, pointing to the success of Quencher and the recent launch of Nowt Peculier, a 0.0% version of the brewery’s iconic Old Peculier ale. The alcohol-free variant retains the flavor profile of its predecessor and has already gained traction across on-trade and retail channels.
International expansion also contributed to the brewery’s growth, with exports to markets including the United States, Australia, and Italy now accounting for 4% of total turnover—double the previous year’s figure.
While celebrating its achievements, Theakston remains cautious about the challenges ahead. The report highlighted a range of external pressures that could impact performance in 2025, including rising costs faced by pub operators, increased packaging waste charges in retail, and tariffs affecting U.S. exports.
Despite these headwinds, Bradbury expressed confidence in the brewery’s resilience. “With a solid business foundation, healthy balance sheet and secure financial arrangements, we remain focused on growing our revenue through strong brand performance and a broadening customer base,” he said. “We are confident T&R Theakston is well placed to continue to perform strongly as we look forward to celebrating our bicentenary in 2027.”
The brewery has made a promising start to 2025, securing national listings for Nowt Peculier in 170 Sainsbury’s stores and expanding distribution of Theakston Quencher to over 500 Asda and Morrisons outlets.
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