Griffin Brewery Owner Plunges Deeper into the Red
Asahi UK's operations facing series of challenges
The Griffin Brewery in Chiswick. Picture: Asahi UK
October 9, 2024
Asahi’s UK operations have seen losses increase according to its latest set of accounts.
The Japanese drinks company, which is the owner of the Griffin Brewery in Chiswick where it also has its headquarters, made a pre-tax loss of £14million in 2023.
Writing back a tax credit meant that the total loss was over £17million. Revenues were up by 2.9% across the year.
In its trading statement the company said that the current economic climate was challenging particularly for production and distribution. Higher utility and fuel costs along with supply chain disruption has sent it deeper into the red after it recorded a £6million loss in 2022. A year earlier it had made pre-tax profits of £11.9million.
The company says the craft beer sector of the industry is highly competitive but that it is well placed due to the strength of its portfolio and new products coming through. As well as brewing Fuller’s beers it also owns other brands such as Peroni.
A statement issued following the results said, "The company will continue to manufacture, distribute and sell its range of quality beers and ciders brewed at its locations in the United Kingdom and provide a full portfolio of drink products to its customers."
"The company's strategic priority is to grow market share within the UK through its portfolio of premium domestic and international alcoholic and non-alcoholic drinks."
It has five sites in the UK in addition to the Griffin Brewery.
The company also faces potential change due to the proposals by Transport for London (TfL) for a reconfiguration of Hogarth Roundabout. Deliveries to the nearby brewery are generally handled directly from the A4 so a closure of Church Street would have no direct impact but the extra lane planned by TfL would take over the slip road currently used by brewery staff and visitors for parking. Hounslow Council has raised concerns about displaced parking in nearby residential areas but TfL says that Asahi is ‘generally supportive’ of the scheme other than having concerns about deliveries to the George and Devonshire and wanting improvements to the vehicle entrance from the A4.
The company has described the Chiswick riverside site as its ‘spiritual home’ and pledged on purchasing it from Fuller’s, Smith and Turner for £250 million in 2019 that it had no intention of ever ending brewing operations at the site.
We have asked Asahi for a comment and await a response.
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