NEWS !!! Sales Down at HEAVITREE BREWERY

Turnover and operating profit have dropped slightly at Exeter brewery Heavitree, but its management team have hailed the company's "solid" performance.

According to insidermedia (2012) turnover for the group decreased by £36,000 (0.49 per cent) to £7.3m in the year ending 31 December 2011.

The business, which manages more than 80 pubs across Devon and Exeter, generated an operating profit of £1.4m, a drop on the £1.42m secured in 2010 (insidermedia 2012)

Over the past year, Heavitree it made several key capital investments. Its Alphington site, The New Inn, was given a major refurbishment, while four other pubs were given minor facelifts.

The company renewed its banking facilities with Barclays just after the end of the year under review. Heavitree said the finance agreement left it "well positioned should there be a change in the economic climate".

According to a statement from  Nicholas Tucker (2010).  "The headline figures may appear to be somewhat flat against the previous year but, given the uncertainty of the European and National economic situations, I consider this to be a solid performance; and I am most grateful for the hard work of our head office team and the staff of the pubs themselves in achieving these results.".