Brewery and pub operator, Brakspear has posted turnover of £22.4m for the year ending 31 December 2015, a rise of almost 13%. Operating profit rose by 19% to £6.9m, and profit, before tax and exceptional items, was up by 26% to £5.3m.
The group’s expanding managed division provided the majority of the growth, where turnover rose by £2.1m to £5.7m, as well as from a 2% turnover rise from the tenanted and leased estate.
During the period, Brakspear continued to invest in its managed estate acquiring two pubs. In addition, one of its tenanted sites in Shepherds Bush became a managed venue after a major refurbishment. The managed estate now stands at eight sites, following the purchase of a further pub in January 2016.
Within the tenanted and leased estate, Brakspear bought one pub in 2015, and sold two as part of its pub disposal programme, fewer than in 2014 as the programme nears its end.
The company invested a total of £7.4m across its pub estate during 2015.