LAST week was considered to be the most important week of the year for pubs in the UK, as the Campaign for Real Ale’s (CAMRA) Good Beer Guide was published and regional winners of the national Pub of the Year competition were announced.

For the first time, Pleased to Meet You, the gin bar in Newcastle, has been included in the guide, and The John Bull Inn, in Alnwick, was named the CAMRA North-East pub of the year.

There are now 1,285 breweries in the UK, higher than at any time since the 40’s, meaning there are now more breweries per head of population than any other country in the world.

Since the last guide was published there has been strong growth in the number of microbreweries.

The North-East has 48 breweries, and five are included in the Good Beer Guide for the first time.

Welcome news for ale lovers because more breweries essentially mean more choice.

Happily, room has been found for the likes of the Bodega, Bridge Tavern and Pleased to Meet You in Newcastle city centre.

This is as well as the Gosforth Hotel, in Gosforth, Pontelans's Blackbird, Butchers Arms and Lambton Worm, in Chester-le-Street, Tanners Arms, in Alnwick, R Bar in Roker, Sunderland, the Hat and Feathers, in Seaham - one of several new Wetherspoon pubs in the region, and the John Duck, in Durham City.

More positive news for the industry, Castle Eden-based Wear Inns has seen its turnover rise 14.5 per cent and the company is planning to increase the number of pubs across the North-East and Yorkshire.

With its headquarters in the old offices of the Castle Eden Brewery in County Durham, Wear Inns is the biggest independent freehold managed operator in the region in terms of volume of beer sold.

The company now features on the Investec Mid-Market 100 list, which ranks the fastest growing companies in the UK with a turnover of more than £10m.

The London Stock Exchange also highlighted the company in its report, ‘1,000 Companies to Inspire Britain,’ which celebrates the country’s most dynamic and fastest-growing small and medium-sized businesses.

While there will undoubtedly be regional variations, rather surprisingly there are now around 31 pub closures a week in the UK; a figure that has increased by almost 20 per cent in just over 12 months.

Some believe there are fewer people visiting pubs but the growth in micro pubs proves there is a niche in the market for this type of establishment.

It could be said entrepreneurs see a micro pub as a safe investment, as cask ales and real cider continue to increase in popularity.

On the markets, share prices reflect the positive current sentiment towards the sector.

Since the appointment of the new chief executive, the outlook is looking increasingly positive for Mitchells & Butlers and Greene King’s continued dividend increases show management’s confidence in the underlying businesses.

The Wetherspoon franchise also presents significant growth potential.

As our love affair with hops looks set to continue, the future for the UK’s beer industry appears rosy.

I’ll drink to that.

Samantha Dolby is an investment manager at Brewin Dolphin and offers advice on a wide range of financial services to private clients, trusts, charities and pension funds. Past performance is not an indication of future performance. The value of any investment and any income can fall and you may get back less than you invested. No investment is suitable for all people and should you have any doubts you should consult an authorised financial adviser. The information contained in this article has been taken from public sources and is believed to be reliable and accurate, but without further investigation cannot be warranted as to accuracy or completeness. The opinions expressed in this article are not necessarily the views held throughout Brewin Dolphin Ltd. No director, representative or employee of Brewin Dolphin Ltd accepts liability for any direct or consequential loss arising from the use of this document or its contents.