Wholesale’s Weekly – An Alcohol Industry Update (23.10.2023)

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More positive results for large pub companies ... except Stonegate.

Pubs perform, in spite of rising costs.

The situation surrounding Stonegate's bond maturing continues to develop, industry figures tracking hospitality sales are released and more in this week's weekly update...

Welcome to this weeks alcohol industry update from 7 Day Cellar. In this weeks edition, we have a host of government figures on the performance of the hospitality industry, alongside annual figures for Brewdog Bars and Revolution group …

 

ONS figures show the hospitality industry has the most unfilled roles, at 120,000. The hospitality staffing app, Slinger, appears to be taking advantage of this  – raising £500,000 from venture capitalists to help it grow. While staff shortages have fallen significantly in the immediate aftermath of COVID-19 – they are still 72% higher than pre-pandemic levels.

 

ONS also reports that September pint prices remained steady at £4.62. This represents a 12% increase on last September, where pint prices were £4.12. Two years ago, the price of a pint was £3.88. With that in mind, are your pubs pint prices below or above the competition?

 

The UK’s credit outlook has been revised back to ‘Stable’ from ‘Negative’, amid stronger tax receipts than anticipated in September.

 

Carlsberg Marston’s Brewing Company (CMBC) announces a 10-year distribution deal with Stonegate – becoming Stonegate’s key new logistics partner managing all key keg and cask deliveries. This partnership will increase the availability of CMBC products across Stonegate’s managed estate, create 100 new jobs within CMBC’s logistics department and see 29 new vehicles added to the fleet.

 

CAMRA has called on the Chancellor to cut taxes on beer in pubs. They also call for help with business rates and energy costs to help pubs compete with Supermarkets.

 

Whitbread analysts report profits ahead of expectations, with revenue up 17% to £1.57B, EBITDAR up 23% at £628M and Profit before tax up 44%.

 

The latest hospitality tracker from CGA & RSM suggests a like-for-like growth of 5.9% in September, close to the 5.3% experienced in August – which represented a 0.6% rise in beer volumes.

 

Revolution Bars Group yesterday reported full-year numbers, with revenues up from £140.8m to £152.6. Peach, a group of 21 country pubs, contributed £22.6m to reported revenues in its 8 months of ownership.

 

M&B brand Ember Inns is offering 40% off mains until Thursday.

 

BrewDog has collaborated with sustainable coffee company Grind on a new coffee-infused stout using Grind’s ethical beans to create a pink-hued 6% ABV beer with chocolate and coffee flavours.

 

Vulture funds, funds that invest in very weak or in default debt, are looking at purchasing a portfolio of 1,000 Stonegate pubs as the latter seeks to raise capital.

 

The owner of Ketel One Vodka, Nolet Group, acquires the remaining 70% of Dutch distiller Lucas Bols for €269.5m, offering a premium of over 70% of recent share prices.

BrewDog Retail Limited – the bar operating arm of BrewDog reports revenue growth from £63.1m to £36.9m.

 

Thornbridge Brewery’s flagship Jaipur IPA is driving 30% YoY growth in cask ale sales – believing this is driven by demand for high-quality cask ales.

Tim
Tim

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