Robinsons Brewery has reported a rise in turnover of 6.1% to a record £75.5m for the year ending 31 December 2018, compared with £71.2m the previous year.
Profit before tax increased to £7.1m, compared with £3.2m last year.
The Stockport-based independent brewer and pub operator, which operates 255 pubs, inns and hotels across the north west, say this success was driven by record investment levels in recent years paying off, solid tenanted pub performance, and the continued progression of their evolving and growing managed house business.
Results were boosted by a strong trading performance in all areas of the business and effective management of costs. Specifically, sales in its 11-strong managed estate were up by 24.7% due to strategic acquisitions and an increased focus on food.
“Investment, licensee support and training have been key drivers over the last five years,” says William Robinson, managing director of its pub division. “During that time, we have invested £26.7m of capital expenditure and completed 127 refurbishments. As a result, our tenanted and managed pubs are in extremely good shape, trading well, and are in a strong position to continue to grow sales.”
Despite disposing of eight pubs during 2018, the 244-strong tenanted estate saw like-for-like net income growth of 4.2%, while operating profit grew by 4.9% year-on-year. During the financial year, Robinsons completed 19 major customer facing investments in their tenanted estate at a cost of £2.2m.
“While we continue to grow our managed estate, our tenanted pubs remain a key part of our business,” adds Robinson. “Our long-term strategy remains unchanged as we focus on developing our people, growing the quality of our pub estate through selective acquisitions and investment schemes, and creating high-quality beers that our customers love to drink. We have made a steady start to 2019 and are optimistic about the long-term sustainable success of the business.”