Henley pub operator Brakspear reports nine per cent increase in turnover

Henley- based pub operator Brakspear reported a 9 percent increase in turnover for the year to December 31, 2023 alongside and expected reduction in profitability.

JT Davies & Sons Holdings Limited, the parent company, reported turnover in the 12 months of £38.6 million, compared to £35.4 million in the year-earlier period.

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Underlying earnings before interest, tax, depreciation and amortisation ( EBITDA) for the year was £10.9 million. down from the £11.2m million reported in 2022 when the company benefitted from a business interruption claim amounting to £0.7 million, it was reported.

Net debt was reduced by 22% to £17 million (2022: £22 million).

Brakspear chief executive was reported as saying the business had performed "very well" last year with a "high level of stability" across its leased and tenanted estate and its Honeycomb Houses managed business driving organic sales growth.

"Whilst I am generally happy with our profitability levels, our profit conversion has reduced because of the well documented cost pressures which affected our customers and directly impacted the operation of our pubs," he reportedly added.

The pub company operates around 110 leased and tenanted pubs alongside ten sites as part of Honeycomb Houses. It reportedly said it was actively looking for more acquisitions for both sides of the business.

Brakspear has already bought four freehold pubs in 2024: The Royal Exchange, Lindford and The Rose & Crown, Alton, both in Hampshire.

Also, The Swan Inn, Chiddingfold, Surrey and The George Inn near Bedford.