Thwaites reports 4% turnover rise amid mixed trading across pubs and inns
Thwaites, the family brewer and regional pub operator, posted six months to 30 September 2026 turnover of £69.3m, up 4% on the prior year’s £66.7m, with operating profit rising to £11.2m from £10.1m. The gain reflected the disposal of a development site and steady performance from Langdale Chase Hotel, along with returns from recent property investments and cautious price increases. The period benefited from periods of good weather and the men’s football World Cup, delivering brisk trade, though beer volumes were flat year on year. Inns performed strongly after major refurbishments last year, with sales up 4% and profits up 6%; hotels saw room sales rise 6% and health club memberships up 7%. The group noted softer demand in discretionary areas such as food, prompting menu changes aimed at better value and flexibility. Net debt stood at £68.7m, up from £66.7m, with £9.9m invested in its own properties. Major projects were completed at Thorpe Park Hotel & Spa to create a FYR restaurant and bar, and refurbishments at Lister Farmhouse, Malham, plus a new beer garden at the Crown in Pooley Bridge generated record weeks over the summer. Two pubs were sold for £2.3m in total, yielding £0.8m profit on disposal. Thwaites reports comfortable headroom of £82.5m against banking facilities and says it remains within covenants. Chairman Richard Bailey notes opportunities to invest and grow employment but cites energy price and inflation headwinds; the outlook is cautious after September and October, with hope for stability following the budget to help restore confidence. Source: The Morning Advertiser
Comments