Upham pub group celebrates 25.1% sales increase for 2017

05/02/2018 - 09:45
Pub and brewer Upham Group Plc has today (5 February) published its financial results for the year ended 31 December 2017 – reporting total sales increased by +25.1% to £15.6 million.

With £15 million worth of pub sales – up from £12 million (+25.9%) in 2016 –brewery sales also increased by 1.2% to £667,000, which generated a 25.1% increase in total group sales from £12.5m in 2016 to £15.6m.

Other highlights included:

  • Trading EBITDA of £1.26m, an increase of more than 100% from £624k in 2016
  • Profit before tax of £0.5m - compared to a loss of £1.2m last year
  • First £100,000 gross sales day on Mother’s Day (26March), and a further four £100k days throughout the year
  • A “
record breaking” New Year’s Eve with group sales of £112,000
  • First £500,000 gross sales week in the last week of 2017 

  • Launch of its first craft beer, UB5, which has "secured a regional listing from Tesco from March"

In its chairman and chief executive review, the company revealed that like-for-like sales across the whole estate were up 4% on 2016, and that “overall gross margins held up well at 73.9% versus 74.2% in 2016.”

Reporting an overall profit before tax for the first time, Upham still said “the economic outlook for 2018 looks, at best, uncertain.” Its 2017 performance does, however, “give the Board continued confidence in the underlying strength of the (Upham) business.”

Chief executive Chris Phillips added: “It has been a good year for the Upham Group, in which we have grown both our sales and estate in the face of a challenging economic environment.

“We work hard to ensure that all our pubs retain their individual character and meet the evolving needs of their local communities, and I believe this is a significant driver behind their enduring popularity.

“Our success is also testament to the strength of our team and my thanks go to them for their continued commitment. We have hit the ground running in 2018 and I look forward to further developing the business for the benefit of customers, colleagues and investors.” 

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