The family-owned Everards brewery and pubs business has reported a solid recovery from the pandemic.
The business – which manages more than 150 pubs and has a new brewery near junction 21 of the M1 outside Leicester – saw sales double to £31.4 million as it came out of two years of on and off lockdowns in the year to last September. It also recorded pre-tax profits of £2.7 million, compared to losses of £3.5 million a year before, despite the impact of inflation on costs.
In a statement on the last few months the business said: “The 154 pub estate has recovered well since the end of the pandemic with like-for-like profit growth to June 2023 of 6.3 per cent.
“Everards continues to work closely with all of its business owners particularly around handling inflation challenges.
“In addition to targeted support with utilities costs, Everards has contained draught drinks price increases of 4.3 per cent to business owners.
“Their new breweries (main and small batch) at Everards Meadows have innovated in both cask and craft beers resulting in like-for-like sales growth (to June 2023) of 12.7 per cent including 11 per cent cask growth.”
Company chairman Julian Everard said: “Hospitality is currently an extremely challenging trading environment, however our collaborative approach and the hard work of my colleagues and business owners is delivering beyond expectations to their customers and communities.
“Our model of investment into our team, our business owners, our pubs and our beers will continue to deliver fantastic community experiences and sustainable business models for both ourselves and more importantly our business owners.”
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The business moved to Everards Meadows, on the southern outskirts of Leicester in 2019, on a site which includes 70 acres of public green space alongside the River Soar.
Its new beer hall, shop and brewery tours had been well received by customers, it said, achieving sales of £2.4 million over the last nine months – 11 per cent up on a year before.
In November, Everards secured planning consent for 150,000 sq ft of new property on the remaining 6 acres of development land, including space for a hotel, office, leisure, hospitality and educational facilities.
The business is now exploring what will best complement Everards Meadows as a “best in class leisure and tourism site”.
Meanwhile, Everards said it had invested £2.2 million into its pub estate since last September, for things such as pub refurbishments, repairs and compliance works.
It has also agreed terms with Lloyds Bank on a new five year funding facility to June 2028.