In its latest results, covering the year to 31 January 2026, underlying profit before tax for the Dorset-based pub operator and brewer rose to £9.3m, up from £8.1m.
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The result followed increases of 25% in 2025 and 50% in 2024. Profit after tax also more than doubled to £8.9m, compared with £4.1m the previous year.
The company said this reflected improved trading, a lower tax bill and an insurance payment following a fire at the Osborne View in Fareham in 2024.
Spending on its pubs and other investments also increased to £19.1m, up from £16.5m.
Margin improvements
Net debt edged up from £35.5m to £36.9m, but the company said its £55m of banking facilities gave Hall & Woodhouse plenty of scope to continue investing.
Elsewhere, it’s managed pubs saw growth boosted by acquisitions and investment at sites including the Barn in Woolacombe, the Dolphin in Beer, the Quay in Poole and the Seven Stars in Petersfield.
The company’s new-build pub in Crowthorne also traded ahead of expectations, while improvements to margins and staff productivity helped performance.
The company’s brewing arm also recorded growth, with volumes up 4%.
Outland craft keg beers performed particularly strongly in Hall & Woodhouse pubs, with growth in Outland Stout more than offsetting a decline in Badger cask ale.
Meanwhile, its business partner pubs, which are run by independent operators with support from Hall & Woodhouse, delivered another solid year, with profits in line with 2025.
Challenging environment
However, chairman Anthony Woodhouse said negative media coverage of the hospitality sector had made recruiting new business partners more challenging.
Woodhouse further warned wider industry pressures were making it harder for hospitality businesses to operate and invest.
He highlighted employment taxes, employment rights legislation, VAT disparities between supermarkets and pubs, business rates and changes to Inheritance Tax as ongoing challenges for the sector.
While welcoming the reduction in business rates set to be introduced by the Government in April 2027, Woodhouse warned more needed to be done to unlock hospitality’s growth potential.
Looking ahead, the family-owned business, which has around 150 pubs across the south and brews Badger Ales and Outland Beers at its Dorset brewery, is preparing to celebrate its 250th anniversary in 2027.
Earlier this year (February), Hall & Woodhouse revealed it had injected more than £2.5m into its tenanted business partner arm in 2025.
