Brewer Robinsons spends £7m on estate projects

Capital expenditure nearly doubled at historic Stockport brewer and pub company Frederic Robinson as the business posted a small drop in profits.

The company, founded in 1838 and better known as Robinsons, is now run by the sixth generation of the Robinson family and brews, bottles and sells beer, wines, spirits and tobacco.

It also owns about 360 pubs across Cheshire, Lancashire, Cumbria, Derbyshire and Wales.

According to newly filed accounts, Robinsons spent £7.1m on capital expenditure, compared with £3.9m in 2010, which included £2m on new brewhouse facilities, £2.7m on its tied estate and a further £1.6m on new distribution facilities.

In February, Robinsons closed its former brewhouse after 83 years of service and starting supplying drinks from a brand new brewery in Stockport.

Joint managing director Oliver Robinson told Insider: “We have always been a brewer which invests back into our estate. It’s very important for us to make sure we continue to improve the quality of it.

“Some of that may have been £20,000 on one pub and £800,000 on another depending on what’s required.

“We’ve already spent quite a few million in 2012 and going into 2013 I think we’ll look at spending less money collectively, with smaller amounts on more pubs. We cannot keep spending £8m or £9m a year.”

He said the company was in the process of disposing of about 30 pubs over the next 12 to 18 months and in 2011 six sites were sold for £1.6m.

Robinson said the company was always on the look out for new acquisitions as and when they arose while cask ale sales were enjoying growth.

Turnover for the year to 31 December 2011 rose slightly from £53.4m to £54m and operating profit fell from £387,000 to £116,000.

Pre-tax profit fell from £2.46m to £1.81m and overall profit for the year was down to £889,000 from £1.5m.

In March, company reins were handed down to Oliver and William Robinson as joint managing directors after brothers Dennis, David and chairman Peter Robinson stepped back from day-to-day management.

The trio have a combined experience of 150 years in the industry.

Source: http://www.insidermedia.com/insider/north-west/77932-brewer-robinsons-spends-7m-estate-projects?utm_source=nw_newsletter&utm_medium=email&utm_term=business_article&utm_campaign=nw_news_tracker