Cumulative losses at Lucky Saint have shot past £20m despite rapidly growing sales as the alcohol-free beer innovator continued to burn through cash.
Revenues at the omnichannel challenger brand, which also runs a pub in central London, hit £21.7m in the 18 months to 29 June 2025, according to the group’s first full set of financial accounts filed at Companies House. It represented a 126% rise over the £9.6m generated in the 12 months to the end of 2023 as Lucky Saint won significant distribution gains in retail and hospitality.
The annualised growth rate reduced to 51% when accounting for the extra six months of trading in FY25, with Lucky Saint extending its accounting period in December 2024.
Lucky Saint’s jump in sales allowed it to continue to invest heavily in marketing and expanding its team.
However, pre-tax losses increased as a result from £5.8m in 2023 to £6.6m.
Total staff costs in FY25 reached £6.6m, made up of £5.9m in wages, £615k National Insurance contributions and £94k for pension costs, with the group employing 67 staff on average during the 18 months. Its highest paid director earned £317k, the accounts showed.
The company was also hit by a £400k exceptional cost related to “organisational restructuring and financing activities”.
It took total losses since Luke Boase founded Lucky Saint in 2018 to £21.5m.
Lucky Saint, which has raised significant investment since launching, secured a further £4.1m from backers in FY25, according to the accounts. It followed a £10m Series A round in early 2023 led by Beringea and JamJar Investments and a £4m equity raise from Puma Investments in December of the same year.
The business’ cash position shrank during the 18-month period covered by the accounts from £4.8m to £3.3m as its outflows rose from £4.3m to £5.5m, and amounts falling due to creditors within one year rose from £3.4m to £4.1m
But gross margins at the group improved from 26.8% to 36.5% in the latest period as the business benefited from its increased manufacturing scale. And, on a comparable 12-month basis, operating losses reduced from £5.8m to £4.4m.
A spokesman for Lucky Saint told The Grocer the business had “a clear path to profitability by scaling the business efficiently”.
“Lucky Saint will continue to build on its strong growth through expanding distribution partnerships, investment in product innovation and continued improvements in operational efficiency, while progressing towards profitability,” he added. “Lucky Saint continues to enjoy the support of its board and investors in executing the long-term vision of the business.”
Lucky Saint, which is on a mission to become “the world’s defining alcohol-free beer brand”, is stocked in more than 10,000 pubs, bars and restaurants in the UK, including 1,300 accounts on draught and 85-plus Michelin Star restaurants.
The low & beer category continued its growth in 2025 as value sales jumped 21.7% to £141.1m on a 15.6% rise in volumes [Worldpanel by Numerator 52 w/e 28 December 2025].
Lucky Saint’s spokesman said it outperformed the category last year and added moderation was no longer just about Dry January but was becoming “increasingly relevant to consumers all year round”.
However, there was a marked slowdown in January trading for low & no-alcohol, with value sales of beers up just 2.8% year on year to £17.1m [NIQ 4 w/e 24 January 2026] as demand shifted to functional soft drinks.
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