The new Hall & Woodhouse brewery
Turnover at Hall & Woodhouse rose 2.2% in the year ending January 27, the company has reported, with pre-tax profit up 42.9% to £9,286,000.
The profit is so high because of an exceptional item — the sale of the old brewery. EBITDA fell 2% to £14.5m.
The funds from the sale of the old brewery site were re-incested in the purchase of The Boathouse, in Bath, combined with the opening of Cranberry Farm, just outside Exeter.
Chairman, Mark Woodhouse, said: “This year has delivered a strong performance from both our managed houses and our business partnerships, despite the challenging market conditions.
“Badger in the off-trade had a difficult year reflecting the continued structured challenge in the market.
“Once we look at the excptional items (which include the sale of the old brewery), then our profit has increased year on year by 42.9% to £9.3m. This has enabled us to reduce our net debt by £3.7m to £51m.”
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