Hall & Woodhouse managed sites have 'excellent year'

The managed house pub estate of brewer and operator Hall & Woodhouse has performed well over the last 12 months, as the business reveals its latest full-year financial results.

While the business says the managed houses delivered significant increase in profitability, overall underlying profit before tax increased by 25% to £8.1m (2024 - £6.5m) in the year to 25 January 2025.

Statutory profit after tax decreased to £4.1m (2024 - £9.5m), which Hall & Woodhouse says is due to the previous year benefitting from the profit on the sale of the Rio soft drink brand.

"Our managed houses had an excellent year with a significant increase in profitability," says chairman Anthony Woodhouse. "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’.

"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."

Beers and business partners

Net debt over the year reduced to £35.5m (2024 - £37.1m), notwithstanding capital expenditure of £16.5m. With £50m of banking facilities in place, Hall & Woodhouse says it has plenty of headroom to continue to invest in its houses, brands and team. 

"Our business partner business had another solid year, with profits slightly ahead of the previous year," adds Woodhouse. "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."

However, Woodhouse says that the premium bottled ale market in the off-trade is under pressure from falling volumes, and increasing costs and regulation. Craft keg ale performed well in its pubs with the rapid growth more than out-weighing the decline in its Badger cask ale.

"In a year when the focus has quite rightly been on continuing to drive profitability, it is doubly pleasing that we have stayed true to our purpose and values," says Woodhouse. "For example, by continuing to pay the equivalent of the Real Living Wage as a minimum, by being selected as one of the Times’ 70 Top Big Employers in the UK for the second consecutive year, and by increasing the amount we have donated and raised for local good causes to over £800,000 in the year."

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