Wadworth FY profits surge 229% to £3.5m
The Wiltshire-based company said the increase was driven by strong Christmas trading, a 6% rise in sales across the business, and cost efficiencies from its new brewery
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Independent pub and brewery company Wadworth reported profits of £3.5m for the year ended 4 January 2025, up from £815k the previous year – spelling a jump of 229%.
The Wiltshire-based company said the increase was driven by strong Christmas trading, a 6% rise in sales across the business, and cost efficiencies from its new brewery.
Wadworth’s turnover rose to £41.3m for the period, up 5.5% from £39.15m, and also reported a 17% increase in EBITDA to £5.4m.
Managed pub sales rose by 8%, with divisional profits climbing by more than 20%. Wadworth credited the growth to experienced pub operators and “a central team focused on customer experience”.
Margins improved in both food and drink during the year, supported by careful pricing and reduced waste. Capital projects included investment in the George at Frome, a 28-bedroom hotel, which added 40 covers and improved the external trading space. Wadworth said the investment met its target return and supported future expansion plans.
Beer volumes rose in the tenanted division, driven largely by the new Folly Road drinks range. Wadworth said the results demonstrated how its beer offer was helping tenants remain competitive.
In addition, 14 new tenants joined the estate in 2024, bringing “remarkable transformations”, according to the company’s filing at Companies House.
Despite the gains, higher interest charges and weather-related repair costs partly offset performance improvements.
The company extended its borrowing facilities by one year from September 2024 and plans to refinance on a longer-term basis from September 2025. Improving performance has increased its appeal to lenders, though the board remains focused on reducing debt to support cash flow and shareholder returns.
Post year-end in February, Wadworth was granted planning permission for the Bachouse section of the Northgate redevelopment in Devizes. The Grade II-listed portion remains under review, with a decision expected later this year. The development is expected to release funds for further investment in the pub estate.
