Operator increases turnover to £41.3m

THE owner of a Henley pub operator has increased its turnover by seven per cent.

JT Davies & Sons Holdings, the parent company of Brakspear, reported turnover of £41.3m for the year ending on December 29 last year, up from £38.6m in the previous 12 months.

This was accompanied by a two per cent decline in adjusted earnings before interest, taxes, depreciation and amortization at £10.7m.

The company has also reported underlying profit before tax of £7.5m adjusted for an impairment charge totalling £0.7m, which is up from £7.4m in the previous year.

Chief executive Tom Davies said there had been growth across all areas of the business despite operating costs increasing significantly because of government policy, inflationary pressures and world events.

He said: “It is very encouraging that we continue to grow our business from a sales perspective and that is because we have a stable and talented group of pub operators running our leased and tenanted businesses and skilled, motivated teams across our Honeycomb Houses.

“The cost of doing business increased significantly during 2024 and this will increase following the Government’s dreadful 2024 Autumn Budget.”

The company invested almost £9m across its pub estate, an uplift of £3.5m over the previous year. This investment included the acquisition of three new pubs to its leased and tenanted estate. During the year, it also sold the Horns at Crazies Hill.

Post year end, Brakspear bought the Redesdale Arms, Moreton-in-Marsh, with 35 bedrooms, and the Kings Head, Cirencester, with 64 bedrooms. These two purchases individually represent the largest acquisitions made by the group for a long time.

Mr Davies said: “These two acquisitions reflect the confidence we have in our business and our people at a time when the hospitality sector is going through a challenging time.

“I am excited by both of these high-class assets and we will continue to purchase great quality sites as they become available.”