Hydes, a family-run brewery based in Salford, has reported record sales for the financial year 2023-24.
The business, which has an estate encompassing Manchester, Cheshire, and North Wales, achieved a turnover of £39.3 million, a £5 million increase from the previous year’s £34.1 million. The previous year had also seen a £5 million rise from 2022’s revenue of £28.3 million. Pre-tax profits for the year ending March 31, 2024, grew from £2.3 million to £3.6 million.
Hydes attributes its significant sales performance to key investments in refurbishments and the inauguration of a landmark site on the Wirral at Heswall. Established in 1863, the pub retailer and brewer supplies beers to wholesalers, pub companies, and other brewers across the United Kingdom. It manages nearly 50 pubs, ranging from Lancaster to Stoke-on-Trent and across to North Wales, comprising 33 managed and 12 tenanted pubs.
The opening of the Harry Beswick pub in November 2023 in Heswall has been notably successful and continues to perform well as it nears its first anniversary. Named after esteemed local architect Harry Beswick, the establishment was acquired in 2022 and marks Hydes’ first site purchase since 2015. The business invested over £3.6 million in refurbishing and extending the historic building, which formerly served as a police station in the Wirral town.
Additional major refurbishments were undertaken 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, remarked, “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 further 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.”
The continued success and growth of Hydes are indicative of its strategic investments and commitment to quality, heralding another prosperous year for the family-run brewery.