The leased & tenanted pub company invested in its estate during 2024, with £2.9m spent on maintenance and capex.
During the period the Mark Grunnell-led group acquired 19 sites for £12.6m, and disposed of nine underperforming assets, as part of an ongoing strategy to optimise its portfolio.
Strong performance
The loss for the year before tax was £45k. After a deferred tax movement of £119k, net profit was £75k
A dividend of £200k paid to a parent company, Red Oak Group Holdings.
Writing in a strategic report published to Companies House, Grunnell said: “The accounts reflect another year of strong performance, delivered against a backdrop of ongoing economic uncertainty and persistent cost of living pressures
“Despite external challenges, the business has continues to perform well, underpinned by careful financial management, operational resilience and a continued focus on delivering value
Long-term strategy
“We have maintained out commitment to investing in our existing portfolio, supporting our tenants and growing the business through targeted acquisitions.
“These efforts reinforce our long-term strategy to build a robust and sustainable pub estate while adapting to the changing market conditions.”
Red Oak, which was founded in 2011 by Aaron Brown and Mark Grunnell, has been supported with debt finance from Excellion Capital, Hayfin Capital Management, and OakNorth Bank.
- This story was originally published in The Morning Advertiser’s sister publication MCA here.
