Record annual turnover adds froth to family-run brewery, Hydes
Hydes, the Salford-based brewery, has served up record sales for the financial year 2023-24.
The family-run business, with an estate covering Manchester, Cheshire and North Wales, hit turnover of £39.3m, up £5m from the previous year’s £34.1m sales, which was, itself, a £5m improvement on 2022’s figure of £28.3m.
Pre-tax profits for the year to March 31, 2024, rose from £2.3m to £.6m.
Hydes attributes its improved sales performance to its investment in refurbishments and the opening of a landmark site on the Wirral at Heswall.
Formed in 1863, the pub retailer and brewer supplies beers to wholesalers, pub companies and other brewers throughout the UK and has a pub retailing estate of nearly 50 pubs, ranging from Lancaster in the North to Stoke-on Trent in the Midlands and across to North Wales, comprising 33 managed and 12 tenanted pubs.
Hydes said its opening of the Harry Beswick in November 2023 in Heswall has been a great success and it has continued to trade successfully as the venue approaches its first anniversary.
The pub, named after celebrated local architect Harry Beswick, was acquired in 2022, and is Hydes’ first site purchase since 2015. The business subsequently invested more than £3.6m in refurbishing and extending the historic building which previously served as the police station in the Wirral town.
Other major refurbishments were completed at the Crown Inn and James Watts in Cheadle, The Vine Inn in Nantwich, the Abel Heywood in Manchester and the Mount Inn in Chester.
Adam Mayers, managing director of Hydes, said: “Once again, Hydes has shown resilience, innovation, and customer loyalty, resulting in a record-breaking turnover for the second successive year.
“This reflects the brewery’s commitment to delivering exceptional products and services and also highlights that investment in our pubs and our people remains a key priority.”
He added: “The pub estate was maintained to a high standard, quality refurbishments undertaken and the first freehold acquisition in over a decade are all significant factors contributing to ongoing success. Brewery volumes increased sharply and the tenanted estate performed well.
“The strong results recorded this year are a testament to the hard work of our entire team across every part of our business in both this and previous years.”
