Carlow Brewing Company Experienced Pre-Tax Loss Of €626,702 During 12 Month Period That Ended On March 31, 2020
Newly-filed accounts for O'Hara's craft beer producer Carlow Brewing Company have revealed that the company experienced a pre-tax loss of €626,702 during the 12 month period that ended on March 31, 2020.
As reported by The Irish Examiner, the newly-filed accounts for Carlow Craft Brewery Ltd, which is also known as O'Hara's Brewery, and its subsidiaries reveal that revenues rose by 2% to €10.3 million during the year that ended on March 31, 2020.
According to The Irish Examiner, the company reportedly made a pre-tax profit of €170,830 in 2019.
The Irish Examiner quotes the company's CEO, Seamus O'Hara, as saying, "We had a strong performance for two quarters and then were hit with the impact of COVID-19 in the final quarter of the year in both domestic and export markets."
According to The Irish Examiner, O'Hara said that during the pandemic, the company, which is based in Bagenalstown, Co. Carlow, has recorded a "very strong performance" in all off-licence channels, but has sustained "a significant decline" in sales to pubs due to pubs being closed for the majority of the pandemic to date as a result of COVID-19-related business restrictions.
The Irish Examiner quotes O'Hara as saying, "We noticed consumers are trading up and treating themselves to more craft and speciality beverages at home."
O'Hara reportedly said that Carlow Craft Brewery has experienced "a big increase" in online sales.
The Irish Examiner also quotes O'Hara as saying, "We are very optimistic about the year ahead and feel we are well positioned for the recovery and benefiting from new opportunities that may emerge.
"It has been a challenging year and we have had to adapt accordingly."
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