Record sales of £94.3m reported by JW Lees

By Shwetali Sapte

- Last updated on GMT

JW Lees reports record sales for FY 2024

Related tags Jw lees Finance Brewing

JW Lees has achieved record sales of £94.3m in the year to March 2024, according to managing director William Lees-Jones.

The figure is 10% up year-on-year, with revenues at £88m the prior year to March 2023 for the Manchester-based brewer and pub operator.

Writing on Twitter and LinkedIn, Lees-Jones said: “It’s tough running pubs. Costs are through the roof, even more so with business rates and wages this week.

“But people love beer and pubs. JW Lees just closed off 2024 with record sales of £94.3m, up 10% on 2023.

“Thank you to all our customers and teams. We go again with 2025.”

Increasing investment

Speaking to The Morning Advertiser​’s sister publication MCA​ in January 2024, Lees-Jones said the group was focused on increasing investment into and growing its accommodation business.

All three parts of the business – beer, pubs, and hotels – were in growth, he added, with accommodation currently standing at about 20% of the managed business.

“We’re adding rooms to existing hotels to get that scale within the business,” Lees-Jones said. “We’ve had an aggressive disposal programme over the past 20 years, so the tail of the estate is almost non-existent.”

JW Lees has also been carrying out a refurbishment programme that leaves it well placed to benefit from premiumisation trends as customers look for better quality rooms, wines, and cocktails, according to Lees-Jones.

Back on track

In its 2023 financial year, JW Lees reported record revenue at £88m (up £13m (16%) on the previous year).

Although profits were down by 56% to £3.5m, the company cited a number of reasons including the cost of energy, significantly reduced Government support and increased levels of investment in the business.

The brewer said in its results, it is back on track for future growth following the period of lockdowns and a self-imposed freeze on capital expenditure, with the JW Lees estate now back on a five-year rolling refurbishment programme.

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