Pub operator and brewer Butcombe, which is backed by Caledonia Private Capital, has unveiled financial results for the year to the end of January, revealing an exceptionally strong period for the group.
Highlights for the 53 weeks to 31 January 2026 include:
- Underlying group EBITDA of £15m, with a growth of 9.1% versus last year;
- UK Butcombe Pubs & Inns delivered 9.7% like-for-like growth, with Boutique Inns delivering 12.5% growth;
- UK brewing and drinks sales up 5%; EBITDA up 3%; and
- A managed pub EBITDA-jump of 23%, with like-for-like sales up 8%;
- Winner of the Publican Awards best pub employer 2026, and recognised in The Sunday Times Best Places To Work 2026
We are very pleased to share these results, which graphically illustrates a strong year with all areas of our business contributing,” said chief executive Jonathan Lawson. “First and foremost, this performance is only possible due to the considerable and concerted efforts of our amazing people, and I’d like to express my sincere thanks to all of them.
“The 12-month period to the end of January 2026 was a very strong year for Butcombe Group. The growth that we delivered was all the more impressive in that it followed a prior year of significant growth and momentum for the business.
“We continue to build a leading, premium pubs and boutique inns business, allied to a first- class beer, brands and drinks operation, all underpinned by operational excellence, innovation and strategic investment, with strong momentum as we head into our new financial year.”
The 70-strong managed pub and inns have been the group’s stand-out performer, with sector -leading like-for-like growth of 8%, including drink at 10.1%, food at 6.5%, and accommodation at 5.3% like for like. In addition, it has delivered improved gross margins, reduced labour-to-sales ratios, and realised a significant improvement in EBITDA margin.
The 48-strong tenanted pub division has performed resiliently in a mature market and investment in these businesses, which are located primarily on the Channel Islands, continues.
Brewing award-winning beers and supplying a wide range of premium drinks is a key part of the business, and strong progress has been made during the period. The UK Butcombe drinks business achieved sales growth of 5%, with EBITDA up 3%. Success in the low- and no-alcohol beer category continues and is a key driver in the growth of the drinks arm of the business, with the category up 63% for the year and flagship brew Goram IPA Zero growing a further 57%.
Butcombe Original continues to flourish and is now the top cask ale brand in the South West, and in the top ten nationally. The canned version was awarded gold at the International Brewing Awards in February. It has continued to win distribution, with listings in Marks & Spencer, Waitrose, Morrisons and Tesco.
The company added: “Trading in the first quarter of the current financial year has been strong and very much in line with our expectations. We remain in good like-for-like growth across our business, against strong comparatives in Q1 last year of 10.3%.”
