JW Lees reports record £67.7m turnover

Claire Dodd

Claire Dodd

03 October 2017

Manchester-based family brewer JW Lees has reported record turnover, achieving 5.6% growth to £67.7m, as it eyes the 'next chapter' in its history.

The company spent £10.8m on acquisitions in the year to 31 March 2017, as it looks to revamp the estate, while major refurbishments exceeding £50,000 each were carried out at 72 sites.

Due to investments, EBITDA was down by £1.1m (11.8%) to £8.2m, with operating profit falling by £869,000 (13.2%) to £5.7m and pre-tax profit (excluding property disposals) falling by £617,000 (10.7%) to £5.1m.

It advised short-term profitability will 'continue to fall slightly' as the company continues estate investments in the year ahead. Flagship property The Alderley Edge Hotel is to undergo a full refurbishment, with spending also earmarked for the managed and tenanted pub estate.

The company has been working with branding agency Squad for the last 12 months on repositioning the JW Lees brand as a 'modern traditional brewer' in the face of what managing director William Lees-Jones described as 'an increasingly crowded landscape of traditional and new craft breweries'. It will be unveiling its new look this November.

'2017 has been a year of positive growth for JW Lees and we are laying the foundations for the next chapter of our family business as we approach our 200th anniversary in 2028,' Lees-Jones said.

'Bedrooms are becoming an increasingly important revenue stream and we now have 211 bedrooms in our managed estate of hotels and inns. We are in the fortunate position of having supportive family shareholders who want to invest in our business for the long term as well as being virtually debt-free. We remain hungry for acquisitions of both managed and tenanted pubs as well as hotels in the North West.'

Related articles

News

Greene King reports record results

Brewer and pub operator Greene King has posted what it has called ‘record results’ as group revenue climbed 6.9% to £2.2bn, for the 52 weeks to 30 Apr

Beer & Cider

Innis & Gunn boosts profit and turnover in 2016

Independent Scottish brewer Innis & Gunn has hailed 2016 as a transformational year for the business as it revealed boosted turnover by 22%, and profi

News

Operational costs reach almost 50% of turnover

The operating costs associated with running a pub or bar are at a seven-year high, accounting for almost half of turnover according to a new report.Th

Beer & Cider

St Austell Brewery achieves ‘record’ trading in 2015

Independent Cornish brewer and pub operator St Austell has reported a ‘record year’ of trading for 2015, with a 7.9% increase in turnover and 7.6% inc