Everards, the Leicestershire-based brewer and pub operator, returned to profit in 2022, with turnover also up year-on-year.
The pub company reported turnover of £31.4m (2021: £15m) and profit before tax of £2.7m (2021: £3.5m loss).
Everards said its 154-strong pub estate has recovered well since the end of the pandemic, with like-for-like sales growth of 6.3% in the nine months to June 2023
The group said it continues to work closely with its tenants and lessees, particularly around inflation challenges and targeted support with utilities costs.
Draught drinks price increase have been contained at 4.3% for tenants, the company said.
Innovation with cask and craft beer at the new breweries at Everards Meadows have resulted in like-for-like sales growth to June 2023 of 12.7%, including 11% growth in cask.
Investment in the pub estate has also increased, with £2.2m allocated between September 2022 and June 2023 into refurbishments, repairs and compliance works.
The creation of Everards Meadows, the business’s new 90-acre leisure and tourism development, launched in Summer 2021, was said to be performing well.
The new Everards beer hall, shop and brewery tours achieved sales of £2.4m in the 9 months to June 2023, 11% ahead of the prior year.
In November 2022, Everards secured planning consent on their remaining six acres of development land, including spaces for a hotel, office, leisure, hospitality and education.
The company has also agreed with a new five-year funding facility with Lloyds Bank up to June 2028.
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.”
