Dorset brewer sees profits rise by 50% year-on-year

Management has said the brewer delivered an “excellent performance” with the announcement of £6.5m pre-tax profits compared with 2023’s £4.2m to the end of January. 

Total profit after tax also increased to £9.5m (2023 was £8.1m), bolstered among other things by the profit on the sale of Rio during the year.  

A final dividend was paid of 175p per ordinary share (2023 - 50p) giving a total for the year of 325p (2023 - 150p).  

Anthony Woodhouse, chairman of Hall & Woodhouse

Net debt was reduced substantially to £37.1m from £55.7m and, with £50m of banking facilities in place, this leaves plenty of headroom to continue to invest in its pubs, brands, and team. 

Anthony Woodhouse, chairman, said the results are “excellent” despite the "well-publicised challenges for our industry”. 

Profits are now broadly equivalent to pre-pandemic levels and Mr Roodhouse said he is now confident for further progress “notwithstanding the generally poor weather”. 

He said: “Our managed houses had an excellent year with significant increases in total sales and covers on a like-for-like basis.  

“Margins and labour productivity benefitted from a broad range of initiatives. As well as continued investment in the core estate, we opened the spectacular H&W Taplow on the banks of the River Thames. 

“Our business partner business had another good year with continued steady growth. The quality of the estate, our business partners, and the support that we provide, means that this is a very stable, cash generative and valuable business. We were delighted to be ranked as the ‘Best Tenanted Pub Company’ by the licensee index.” 

The rebranded Badger range has also been recognised as a factor for increased profits, with the new craft ale range Outland from Badger Brewery performing “very well” in Hall & Woodhouse’s pubs. 

Hall & Woodhouse, based in Blandford (Image: Submitted)

Mr Woodhouse added: “In a year when the focus has quite rightly been on restoring profitability, it is doubly pleasing that we have stayed true to our purpose and values.  

“For example, by continuing to pay the equivalent of the real living wage as a minimum, and by increasing the amount we have donated and raised for local good causes to approximately £0.7m in the year.  

“Additionally, we are delighted to have featured on this year’s Sunday Times Best Places to Work list. 

“Matt Kearsey, managing director, and the team deserve praise and have my heartfelt thanks for producing a remarkable performance – such an outcome does not come by luck, but by designing and delivering a clear plan with hard work, passion, and skill.”