Everards reports 109% turnover increase

The company recorded a turnover of £31.4m for the financial year ending September 2022, up from £15m the previous year, as well as a rise in profitability, with profit before tax at £2.7m compared with a £3.5m loss in 2021.

Everards, which has estate of 154 pubs, added that the business had “recovered well” since the end of the pandemic with like for like profit to June 2023 at 6.3%.

Everards 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.”

Performing well 

The operator and brewer also claimed it had “contained” draught drinks price increases of 4.3% to business owners.

Attributed to innovation in the cask and craft beer categories, the company also saw like-for-like sales growth of 12.7% to June 2023 and 11% for cask.

Investment into the business’s pub estate had also increased, with £2.2m allocated for refurbishments, repairs and compliance works between September 2022 and June 2023.

The firm further stated it would continue to “work closely with all of its business owners” with regards to handling “inflation challenges”.

Furthermore, Everards new Beer Hall, Shop and Brewery Tours finished 11% ahead of 2021 in the nine months to June 2023 with sales of £2.4m while its 90-acre Leisure and Tourism Development, launched in summer 2021, was described as “performing well.”

Fantastic community experiences 

In November 2022 Everards also secured planning consent of 150,000 sq.ft. on their remaining 6 acres of development land including spaces for a hotel, office, leisure, hospitality and education. 

The brand said it was exploring what will “best complement” Everards Meadows as a best-in-class leisure and tourism site.

Additionally, Everards were also “pleased to report” that terms had been agreed with Lloyds Bank on a new 5-year funding facility to June 2028.

Everard continued: “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.”