HAWTHORN Leisure, the Birmingham-based pub company with 104 venues in Scotland, has claimed a third consecutive year of growth in its latest financial results.
The company’s 2016 results showed earnings before interest, tax, depreciation and amortisation (EBITDA) rose to £9 million last year, up 10.1% from the previous year, with like-for-like revenues climbing 9.5% in the first half of 2017. The pubco was formed in 2014 and now operates an estate of 312 pubs across mainland Britain.
The group attributed the strong results to a “clear strategy” of steadying and improving its estate through investment. By the end of the year Hawthorn will have spent £13.5m on its estate.
“After three years of trading, the business is now well established with an infrastructure and teams in place to operate both tenanted and managed businesses,” said Hawthorn chief executive, Gerry Carroll.
“This is a strong set of results reflecting the hard work of the Hawthorn team during the year.
“The continued benefits of ongoing capital investment in our core estate, a focus on maintaining strong partner relationships and the opportunistic disposal of non-core assets is evident in the strong like-for-like growth we have achieved in the period.”