Record revenue converts postively for St Austell
St Austell Brewery becomes the latest pubco to showcase record revenues and increased profits.
Another set of financial results from a larger pub company has proven the resilience and momentum of UK pubs, as St Austell Brewery becomes the latest to showcase record revenues and increased profits.
Following recent results from Fuller's and Young's, which follow a similar pattern of profit return, St Austell has delivered record-breaking turnover and underlying EBITDA growth of 8.7% in the 52-week period to 28 December 2024.
The turnover of £231m converted into an 8.7% increase in EBITDA to £22.4m despite the continued economic headwinds.
During the period, St Austell's managed houses delivered strong sales growth, with like-for-like growth of 13%. The business owns over 160 pubs and inns across the West Country, including managed houses and tenancies.
"I’m proud of the strong financial performance in 2024 which came off the back of a very strong 2023," says Kevin Georgel, chief executive of St Austell Brewery (pictured). "The results are all the more meaningful given the challenging trading environment. Despite the sustained economic headwinds, and wider market challenges, the commitment and passion of our people and the resilience of the company have enabled us to deliver continued growth in both revenue and profits.
"As we look forward, while the outcome of the autumn Budget has created significant additional cost pressures - necessitating some difficult, but necessary decisions to review and reduce our operational structure - we remain resolutely focused on delivering our long-term strategy and sustainable growth."
Time for a rebrand
In parallel to announcing its annual results, the 174-year-old company has unveiled its first major rebrand in more than 70 years. The new brand identity, St Austell says, aims to positively evolve the company and ensure it underpins its ambitions for the future.
At first there will be a digital rollout of St Austell Brewery’s new branding. The physical branding will change over several months and beyond. The business will be managing the changeover sustainably through phased implementation and a commitment to repurposing or recycling materials.
"Our recent rebrand signals our intent to future-proof the company," adds Georgel. "The evolution of our brand isn’t just about a new identity, it’s about clarifying and refining our purpose, positively evolving our values, launching our new sustainability plan, and aligning everything we do with the world we want to help shape.
"Guided by extensive research and insight from both inside and outside of the business, we are committed to ensuring that we are fit for the future. The rebrand is a natural and considered step forward which underpins our ambitions for the future and the generations to come."
In 2024, St Austell invested £18.3m in capital expenditure across all areas of the business.
Further highlights from 2024 include the ful reopening of the iconic Pier House in Charlestown, following a devastating fire in January 2023.
"With encouraging financial results, a bold new identity and ongoing investment across our pubs, brands and our people, St Austell Brewery remains firmly on a growth trajectory," says Georgel.
You may also be interested in…
