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Welcome to 7 Day Cellar's alcohol industry update, where we cover everything you need to know about this week in the alcohol industry. We look at everything, from hospitality company annual results, insights into the economy and seasonal trends - you won't want to miss it.
This weeks alcohol industry update covers the news from the chancellor's budget, Britvic annual results alongside Christmas market expectations...

Forecasts by Lumina suggest that the UK restaurant market is forecasted to reach a value of £18.7bn in 2023, marking a growth of 5.2% year-on-year. By 2026, the restaurant market is forecasted to reach £19.5bn. This growth highlights the ongoing trend of consumers valuing dining out.
Tourism numbers are steadily recovering back to pre-pandemic levels, growing 112% year-on-year.
Chancellor Jeremy Hunt has frozen alcohol duty – relieving the alcohol industry. This decision comes as Hunt plans to reduce taxes and put downward pressure on inflation. In line with an aim to reduce taxation, Hunt has extended another 75% business rate rebate for at least another year – where hospitality businesses get 75% off their business rate bills (capped at £110,000).
Nightclub operator Nightcap has reported full-year numbers for FY23 up to July 2nd, boasting a growth in revenue from £35.9M to £46.4M. The company’s EBITDA grew 10% to £6m, but the business posted a loss before tax of £4.9M.
Shepherd Neame acquired the Ship Inn in Herne Bay from Stonegate earlier this month – bringing the total number of pubs and hotels in its portfolio to 296 across Kent, London and the South-East.
The hospitality industry is expected to benefit from a £12bn consumer spending boost over Christmas, with pubs, bars and restaurants welcoming over 40 million people with rebounds in large group parties and private events per VoucherCodes. Many pub companies are already experiencing a growth in this Christmas trade. Fullers discuss how Christmas bookings are currently up 11% on last year, and Youngs have their Christmas bookings up 13% year-on-year. Zonal reports that, overall, December bookings for hospitality are up 40% YoY, with bookings on Christmas Day already 59% up.
Confidence in the hospitality sector rose for the fourth month in a row, even amongst business rate worries and cost challenges. 49% now feel confident about the hospitality market over the next 12 months compared to 45% in August (CGA).
Britvic has also reported its full-year results to September 30th 2023 – with revenues up 6.6% to £1.75Bn and adjusted EBIT up 5.9% to £218.4m.
In April 2024, the National Living Wage will increase by 9.8% to £11.44 – potentially ahead of a general election in the spring or autumn of 2024.