Salford-based Hydes Brewery has announced a significant increase in turnover and profits, highlighting successful pub refurbishments.
Specialising in both the brewing and retail sectors, Hydes operates close to 50 diverse establishments across the North West and Wales, demonstrating its expansive market reach.
The renowned pub and brewery group, Hydes, has reported a record turnover for the fiscal year ending March 31, 2024, achieving a remarkable £39.3 million. This impressive figure surpasses the previous year’s milestone of £34.1 million, showcasing the firm’s robust financial health. Notably, pre-tax profits also witnessed a significant rise, escalating from £2.3 million to £2.6 million, attributed to strategic business decisions and effective management.
Hydes’ extensive network of nearly 50 pubs across North West England and North Wales has been an integral component of its success. The company operates with 33 managed properties complemented by 12 tenanted ones, sustaining a model that balances consistency with entrepreneurial opportunities for tenant operators.
Investment in the pub estate has played a pivotal role in Hydes’ growth strategy. A highlight is the acquisition and refurbishment of the historic Harry Beswick pub in Heswall, where over £3.6 million was invested. This significant refurbishment was part of broader improvements across key locations such as the Crown Inn in Cheadle and the Abel Heywood in Manchester, enhancing the overall customer experience and boosting patronage.
Hydes’ growth has also been fuelled by the expansion in contract brewing sales, reflecting a strengthening in demand across the UK. This strategic initiative allows the company to diversify its offering and tap into a wider market. Additionally, the brewery maintains a strong supply chain, distributing its popular beers to wholesalers and other breweries nationwide, ensuring a steady revenue stream.
Under the stewardship of Managing Director Adam Mayers, Hydes has demonstrated resilience and innovation. Mayers emphasizes the importance of maintaining high standards in both product quality and venue operation. Investing in the workforce and maintaining an eye on future acquisitions continue to be part of the company’s long-term strategy, ensuring sustained growth and market relevance.
Hydes’ focus on community engagement and fostering customer loyalty has been central to its enduring success. Regular patronage is fostered through strategic location choices and management practices that encourage repeat visits. Ensuring quality customer service and community involvement remains an ongoing priority.
With a strong financial foundation and a clear strategic roadmap, Hydes is well-positioned to further capitalise on its market position. Continued investment in infrastructure and people, alongside adaptive business strategies, ensure a promising horizon. Company leaders remain optimistic about maintaining growth momentum while adapting to evolving market dynamics.
Hydes exemplifies the impact of focused investment and strategic planning in the hospitality sector.
Looking ahead, the company is poised to grow by continuing its tradition of quality and excellence in service and product offerings.
