BrewDog is expected to report another pre-tax loss for 2024 and has put its flotation plans on hold as it continues to rebuild its balance sheet.

There had been suggestions that the Aberdeenshire brewer and pubs group was preparing for a £1 billion public listing after the company installed new management and revamped its operating model.

However, CEO James Taylor has said an initial public offering is not on the agenda “at the moment” as it still has work to do.

Net revenue, which excludes excise duty, for 2024 came in at £280 million, repeating the previous year’s performance. It posted adjusted EBITDA of £7.5m.

In 2023 it posted a pre-tax loss of £59.2m and is reported to have made another loss for 2024. The company has declined to disclose this figure.

Brewdog runs more than 120 bars and hotels around the world employing about 2,400 people.