A year of consolidation for JW Lees
FAMILY-owned brewer and pub operator JW Lees has hailed a “record year” as turnover hit a high of £64.1m.
The sixth generation Middleton-based company said sales in the year to the end of March had risen slightly to £64.1m while EBITDA increased 1.6% to £8.9 m and pre-tax profit increased 8.7% to £6.2m.
In a year of consolidation, JW Lees did not acquired any new sites, but spent a record £5.3m on improving the quality, standards and service across its pub estate.
Major refurbishments were carried out at more than 40 sites including The Greyhound in Ashley, The Parrswood in Didsbury and The London Bridge in Stockton Heath.
The Boathouse in Chester not only added a floating beer garden in the form of a barge but also 21 new bedrooms, taking th company’s managed estate to 185 bedrooms.
The company also strengthened its senior management team during the year by hiring ex-Thwaites executive Tony Spencer as director of retail and Nicola Waring as the company’s first director of people.
William Lees-Jones, managing director, said: “We are proud to be reporting a record year and our business is growing steadily. We remain hungry for acquisitions of both managed and tenanted pubs as well as hotels in the North West.”
JW Lees paid out a profit share of £317,000 to team members, as the company achieved its budgeted profits for the fourth year in a row.
The company has an estate of 149 pubs comprising 36 managed houses, 111 tenancies and two hotels.
