Brewery toasts its £100m success

Banks's beer maker Wolverhampton & Dudley Breweries toasted another successful year today as its profits smashed through the £100 million barrier.

The fast-growing company, which owns dozens of pubs across Shropshire and Mid Wales and brews other top-selling brands such as Marston's Pedigree, saw pre-tax profits rise by 13 per cent in the year to the end of September, taking it up to £101.5 million.

Chief executive Ralph Findlay said a string of new pubs, the longer summer weather and the World Cup had all helped.

The company has completed a string of takeover deals in the past year, and has been integrating Burtonwood, Jennings Brothers, English Country Inns and Celtic Inns in its estate.

Mr Findlay hinted that the company's expansion through acquisitions could be on hold for the time being, claiming there was currently a "reduced opportunity" to find a deal which would provide value for shareholders.

He said the company was now gearing up for the new smoking ban to come into effect in England and Wales next year, and admitted it did not know what the exact hit would be.

But around 90 per cent of the company's pubs now have gardens or patios and the firm stressed its "detailed preparation" would reduce any risk.

Wolverhampton & Dudley spent £4.2 million on marketing during the year.