Charles Wells to focus investment on managed pubs

By Liam Coleman contact

- Last updated on GMT

Investment: Pizza, Pots and Pints sites, like the Old White Horse, will be the focus for 2017 investment
Investment: Pizza, Pots and Pints sites, like the Old White Horse, will be the focus for 2017 investment

Related tags: Beer

Charles Wells has revealed plans to focus investment on its managed estate off the back of the company's latest financial results.

Last year saw turnover increase by £4.8m for Charles Wells with a total of £3.7m invested in the company's leased and tenanted estate, averaging out at £19,689 per pub.

As a result, the brewing pubco's chief executive, Justin Phillimore, revealed that the company would be putting funds into its managed pubs throughout 2017.

"We’ll be focusing investment in our managed houses, accelerating the rollout of our Pizza, Pots and Pints concept and actively looking for more sites across France.

"Leased and tenanted pubs will see greater training and guidance for anyone who needs it and we’ll continue to support them with a wider portfolio of beers to entice customers and increase their own profits," he said.

An anniversary to remember

A closer look at the Bedfordshire-based company's accounts for 2016 show that profit was up by 1% on the year before, with reported profit of £7.1m, and £1.2m of that was put into the company's brewhouse.

"We had a great year celebrating our 140th​ year of brewing beer," Phillimore said.

"Highlights included Estrella Damm extending its distribution contract with us for a further five years, excellent profit growth across our managed houses in the UK and France, the launch of Charlie Wells Triple Hopped IPA and Bombardier Pale Ale, and ongoing investment in our leased and tenanted pubs to the tune of £3.7m, all equating to an increase in turnover across the business of £4.8m"

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