Wells & Co. EBITDA approaches £10m

Profits at pub operator and brewer Wells & Co. are up once again, as the business files its annual results for 2024.

The accounts outlined another year of growth for Wells & Co., with revenue up by 5.6%, totalling £65.8m.

For the year ending 30 September 2024, group EBITDA rose to £9.9m, a £400,000 increase on 2023.

In the UK, EBITDA for the organisation’s managed house estate of 28 sites achieved an additional £1.1m, with the operator saying its 130 leased and tenanted businesses delivered a performance that was consistent with the previous 12 months.

Summer of sport

"Over the last 12 months, we have seen growth across all areas of our business which, given the challenges the industry is facing, is pleasing to see," says Wells & Co. group CEO Peter Wells. "The summer of sport went a long way to supporting sales growth across our pubs, both in the UK and France, and I am delighted to see the investment we have made in our own-brewed beers is paying dividend."

Investment in the group’s pub estate was further up in the financial year, with this investment funded by the disposal of land and assets that were no longer driving a return on investment.

"As we look ahead to our coming financial year, we recognise the challenges we face will continue," adds Wells. "The impact of the government’s October Budget will add considerable burden to our cost base if we do nothing to mitigate. Over the last few months we have been working up a number of plans to ensure we can deliver a fantastic service and experience to our customers, while continuing to sustainably grow the business year-on-year.

"Our focus for the upcoming financial year is to continually seek opportunities for investment, in the UK and France, to ensure that our sites remain visually competitive and to enable us to grow our estate – both in terms of managed sites as well as working with best-in-class partners."

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