Pub operator and brewer, Liberation Group, has reported a record sales performance for the year ended 27th January, 2024.
Total group revenues were up 20% at £144.4 million versus the same full-year period in 2023, and strong underlying growth resulted in like-for-like managed pub EBITDA increasing by 19%.
The group’s UK managed pubs produced a very strong performance, with 8% like-for-like growth, ahead of the industry CGA RSM Hospitality Business Tracker in the UK. This was on the back of excellent contributions from all categories, including a standout performance in accommodation of +11.6%.
“It is particularly satisfying to see the way that mature parts of our business continue to grow, such as our managed estate, tenancy, and Butcombe drinks, whilst also seeing newer elements coming through strongly, such as accommodation,” said Liberation Group chief executive, Jonathan Lawson.
“We should remind ourselves that in 2016 we only had ten rooms and now we have over 400, with the potential to achieve 700 in the existing estate as our accommodation offering increasingly forms a substantial lever for our overall managed business. This performance is undoubtedly a differentiator for our group when we look at the wider performance across the sector.
“Our events-led offering is key as we continue to see a rise in the importance of experiences for our customers. For example, our premium pubs and inns are perfectly placed to take advantage of a growing trend for smaller, more exclusive and intimate weddings or celebrations, and experiences such as comedy nights, outdoor cinemas and supper clubs. As we head into the summer months, we also see a rise in bookings around festivals such as Glastonbury and Goodwood Festival of Speed.”
He added: “We are witnessing a growing opportunity in the breakfast and brunch market and will continue to develop this offering in our estate of 42 inns and other selected locations. Market data shows that over half (55%) of British adults are dining out for breakfast at least twice a month, whilst a quarter of us (25%) go out for breakfast every week as it is increasingly seen as a more affordable way to treat family and friends.
“Looking forward, we remain optimistic for the year ahead as we start to see a calmer cost environment and are excited by the plans that we have for growing the existing business. In accommodation, we have progressed rapidly in the last five years and the launch of Butcombe Boutique Inns presents an exciting next step.”
