Revealing its results for the year to 31st December, 2022, Harveys says it has made a faster than anticipated post-Covid recovery, with turnover up to £22,464,656 (£15,348255 2021). Profit after taxation was £2,267,541 (£1,527,022).
But it wasn’t all plain sailing, with city centre pubs slower to rebuild. Indeed, most of hospitality based on office workers has never fully recovered, with many working from home.
A dearth of pub staff quickly developed, with shortages in all areas, particularly chefs. Less surprising were the inflation trends and the cost of living crisis, felt most notably at the lower value end of the pub sector.
Despite the challenges, Harveys took on two additional managed houses during the year, bringing the total to 10. These may take some time to turn a profit.
“It would seem that it has been the reputation and quality of our product has been central to the recovery of our business,” said the directors in their report accompanying the statement.
“This has been emphasised in the free trade where some pubs have only reinstated one or two cask ales. Harveys is invariably at the top of the list in South East England.”
