The Manchester-based brewery has struck a deal with the Budweiser Brewing Group which will see the “cream of Manchester” back in cask and brewed in the city for the first time since 2012.
The brewer, now in its seventh generation saw another record year of turnover for the year ended 31 March 2025, increasing to £99.9m vs last year’s previous record of £95.8m.
However, increased costs meant profit before tax only increased by around £50,000 on the previous year, standing at £7.1m.
The company also said that the recent Government Budget meant it would be starting the year with an extra £2m of cost in employment (wages and National Insurance increases), nearly a third of the company’s profits.
Budget hits
The company also hit back at the Chancellor Rachel Reeves decision to make changes to inheritance tax, removing the benefit of 100% Business Relief, which allows family businesses to be transferred from one generation to the next without taxation.
It described the changes as an “existential risk” for some family businesses and said the changes had created a significant “distraction” at board level in JW Lees, although the company said it remained hopeful the Government would listen to reason and not enact the proposed changes.
JW Lees Managing Director William Lees-Jones said: “We have been very lucky with the weather in the early part of the year but we brew great beers and have great pubs run by great people and that’s why we’re out-performing the market.
“Our performance in our invested sites is particularly strong and we can see how much our guests enjoy the JW Lees pub experience with guest satisfaction for the year running at 92%.
“That said, the increased costs which the Chancellor imposed on us in her budget mean that the business will inevitably be less profitable and so we need to be cautious and focus on productivity; we are calling on the Chancellor to put measures in place to support hospitality in her next budget and this would mean a choice between the long-awaited review of business rates, lower VAT, lower beer duty or less onerous National Insurance contributions.”
Investment continues
The year saw the company continue to invest significantly into its estate, with a Capex investment of £11m, up on £8m from 2024. Only one site was divested, The Park in Wythenshaw, which the company described as previously one of its best pubs but it was no longer sustainable into the future
2025 also saw the expansion of the company’s retail agreements, with a trial of the scheme extended into three sites, with plans for three more over the coming year.
With regard to the Boddington’s deal, announced at the company conference this week (Friday 18 July) JW Lees has signed a long-term partnership with BBG to brew and sell the Boddingtons Cask brand under licence across the UK on trade in free trade and in national accounts. BBG will continue to sell Boddingtons in packaged and keg formats, while BBG brands will also be available in JW Lees’ pubs.
This new partnership will see Boddingtons Cask at 4.0% ABV being positioned in the growing premium cask ale category under the leadership of JW Lees new head of national sales, Matt Savage, who joined JW Lees from Heineken in April this year. The beer is anticipated to be hitting the market from September, the company said.
Lees-Jones added: “When I joined JW Lees in 1994 Boddingtons was ‘The Cream of Manchester’ and we were in awe of their position in leading the cask beer revolution and we are planning to put Boddingtons back where it rightly deserves to be as one of the leading premium UK cask beers particularly in our heartland of the North West.”
Brian Perkins, President of AB InBev, Western Europe said: “We are excited to re-launch Boddingtons Cask Ale in partnership with JW Lees, combining one of the UK’s most iconic beer brands with one of its most respected brewers.
“We see real growth potential for Boddingtons in the UK On Trade, and this is a great example of how strategic partnerships can unlock value for both businesses and beer lovers alike.”
A series of launch events will be taking place across Manchester city centre over the next few weeks, and Boddingtons Cask Ale will be available to the public to taste in September at a number of iconic locations around the North West.