Family brewer and pub company Everards is to invest double the amount it usually would in its pubs, despite the challenging economic environment.
In an interview with The Times, chairman Julian Everard said that while it was tough – that is the time you need to support your tenants.
“It means Everards is going to be less profitable in the short term because of the way we support our business owners.”
The business made a profit in the year to September 2022 and is hopeful of a strong December with the FIFA World Cup and usual festive trading.
“Volumes in the industry are around 15% down. We are trading better than that,” he said.
This compares to a loss of £3.5m in the year to September 2021, on sales of £15m.
Speaking about the business in relation to succession planning, Julian Everard said the business really wants to remain independent, with a strong shareholder base.
This year Richard Everard, the 67-year-old fifth generation of the family to be chairman, formally handed over the role he had held since 1988, to his son Julian, with his daughter Charlotte Vowles continuing as a non-executive director.
