North West brewer and pub operator, Daniel Thwaites has reported a strong financial period for the year ending 31 March 2014 during which it sold the major part of its beer company to Marston’s.
The company reported a 1 % decrease in turnover to £137.6m. Operating profit before exceptional items increased by 19% to £12.3m, while pre-tax profits after exceptional items were £3,3m, compared to losses of £3.8m the year before. The results for the year include four exceptional items totalling £6.9m before tax.
In March 2015 Thwaites sold the trading operations of its major beer division, including the Wainwright and Lancaster Bomber Ales brands to Marston’s for £25.1m in case excluding working capital.