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Living wage boosts, and more strong pub performance in this week's edition...
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Welcome to this week’s alcohol industry update with 7 Day Cellar. This week we have results from large pub and brewing companies, Punch and C&C, along with fluctuations in the living wage that may impact your costs in the build-up to Christmas …
Cask Marque, a hygiene company that makes over 20,000 visits to pubs annually, announces that only pubs achieving 4 or 5 stars in their cellar rating can display their badge in their windows.
Punch Pubs Group reports full-year results, showing a revenue increase of 10.2% from £284.4m to £313.5m – showing consumer demand remains strong. However, they showed a slight dip in EBITDA, which dropped from £83.3m to £81.3m.
C&C Group, the makers of Dry Blackthorn and Orchard Pig, reports their H1 numbers. Their report shows that net revenue was broadly in line with the first half of 2022. Branded revenues increased by 6.9%, whilst net revenue fell slightly by 1.2% due to the new ERP system implementation.
Fullers wins a settlement for £500,000 from insurance company Aviva – after the insurer admitted liability in a dispute over Covid-19-related business interruption cover.
Heineken revenues are forecasted to rise 4.5%, with forecasted positive operating profit growth.
The real living wage, paid to employees voluntarily, has now risen to £12 outside of London. With Christmas job vacancies rising 25% year on year, with over 26,000 seasonal roles advertised, this may represent a significant upward pressure on wages at this time.
Experiential bars seem to be performing well in this climate, with the CGA reporting that 20% of on-premise consumers typically visit experiential bars. The highest volume of visitors are 35 to 54 years old.
BrewDog has implemented a new ‘Under-25 Club’ which will cut prices by 50% for younger customers.
This week’s news, again, seems to show larger companies and pub chains benefitting from pricing power. From BrewDog using their pricing power to push down prices for consumers as a marketing gimmick, to larger brewers raising prices to increase their revenues. That’s why we feel our lagers can help out, where you only pay £85 for a 4% 50L!
