Record sales for Liberation in full-year results
The business saw total group revenues up by 20% at £144.4m.
Liberation Group has reported a record sales performance for the year ended 27 January 2024.
In its full-year financial results, the business that owns Butcombe Brewery saw total group revenues up by 20% at £144.4m, resulting in like-for-like managed pub EBITDA increasing by 19%.
The group’s UK managed pubs delivered like-for-like growth, with accommodation contributing an increase of 11.6%. These numbers arrive just after Liberation announced its new division Butcombe Boutique Inns, which focuses on its pubs with rooms offer.
"Last year was a standout for Liberation Group, as we delivered a year of record sales with growth across all of our divisions," says Jonathan Lawson, CEO of Liberation Group (pictured). "It is particularly satisfying to see the way that mature parts of our business continue to grow, such as our managed estate, tenancy and Butcombe drinks, while also seeing newer elements coming through strongly, such as accommodation."
A solid start to the year
Liberation's start to the new financial year has also seen strong like-for-likes in its managed estate and encouraging year-on-year growth in its brewing and drinks division.
Like-for-like sales in the managed pubs in the 13 weeks ended 27 April 2024 were up 6.5%. The pubs acquired from Cirrus Inns in 2022 are leading the way with 10.4% like-for-like growth.
"We should remind ourselves that in 2016 we only had 10 rooms and now we have over 400, with the potential to achieve 700 in the existing estate as our accommodation offering increasingly forms a substantial lever for our overall managed business," adds Lawson. "This performance is undoubtedly a differential for our group when we look at the wider performance across the sector.
"Looking forward, we remain optimistic for the year ahead as we start to see a calmer cost environment and are excited by the plans that we have for growing the existing business. In accommodation, we have progressed rapidly in the last five years and the launch of Butcombe Boutique Inns presents an exciting next step."
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