Statutory profit after tax decreased to £4.1m (2024 - £9.5m), principally due to the previous year benefitting from the profit on the sale of the Rio soft drink brand, the company said.
With £50m of banking facilities in place, Hall & Woodhouse said it has plenty of headroom to continue to invest in its houses, brands and team.
“Our managed houses had an excellent year with a significant increase in profitability. Despite the poor weather and general economic situation, it was reassuring that our guests were keen to choose our pubs on ‘high days and holidays’,” said Anthony Woodhouse, company chairman.
Solid year
“As well as continued investment in our existing estate, we opened our latest new build H&W Crowthorne shortly after the year end, which has got off to a positive start. We were also delighted to be recognised as the Publican Award’s ‘Best Managed Pub Company’ for 2024. A deserved reward for the hard work and exceptional effort put in by all our team members.”
He added its business partner division had another “solid year” with profits slightly ahead of the previous year.
“The quality of the estate, our business partners and the support that we provide means that this is a very stable, cash generative, and valuable business,” he added.
Woodhouse said the focus of the business has been on continuing to drive profitability.
But he said that the company had continued to stay true to its purpose and values by continuing to pay the equivalent of the Real Living Wage as a minimum and by being selected as one of The Times’ 70 Top Big Employers in the UK for the second consecutive year.
Further progress
The company has also increased the amount it has donated and raised for local good causes to over £800,000 in the year.
“We are looking to make further progress this year. This has been aided by the good weather, but hampered by cost escalation, not least from the steep increase in employer National Insurance contributions in the October Budget,” he added.
“Matt Kearsey and the team deserve praise and have my heartfelt thanks for producing another remarkable performance. They have devised and are executing a compelling strategy, driving us forward with confidence to our 250th birthday in 2027.”
He paid tribute to his cousin Mark who stepped down from his role of family director on the board after 45 years’ loyal service as a 7th generation steward for Hall & Woodhouse.
