- New deal sees premium Japanese lager, Kirin Ichiban listed at YO! Sushi restaurants nationwide
- Bombardier beer announces partnerships with The Barmy Army and The Bunburys
- Bombardier beer and The Gorringe Park pub lead the charge for St George’s Day celebrations!
- Wells & Young’s builds on the future of Scottish ale with the launch of McEwan’s Red
- Kirin Ichiban and wagamama celebrate success in National Noodle Month promotion
- Bombardier blasts back onto mainstream TV in the run up to St George’s Day
- Charles Wells and Dogfish Head Launch International Craft Beer Collaboration
- Bombardier Salutes Comedy as the Official Sponsor of the National Funny Fokkers Comedy Tour for RAF Troops
- Revived, historic brew Courage Imperial Russian Stout makes long-awaited return to the UK
- Retro Scottish beer makes a popular comeback as Wells & Young’s revives Younger’s Tartan Special in can format
- Forget flowers, Kirin Ichiban sends out a Beer Bro-K, the ultimate Valentine’s gift for beer lovers!
- Wells & Young’s new Airman’s Ale to be served in military bars across the UK
- Charles Wells results show period of transition has laid the foundation for growth
- Bedfordshire MPs urged to show support for local beer and pub trade
- Charles Wells staff turn up the heat in charity firewalk
- Wells and Young's in Kestrel negotiations with Nigel McNally
- Wells & Young’s launches new Young’s advertising campaign to drive consumers back into the pub
- Phil Toms appointed Director of Brands at Wells and Young’s Brewing Co Ltd
- Wells Eagle Supporting Local Community Events
- Charles Wells Achieves Recognition for International Performance
- Wells & Young's Reveals Risby to Drive Sales of Iconic Scottish Brands
- Bedford Pubs Host the Eagle Ale Trail
- Save Your Pint - Sign The Beer Tax E-petition
- Wells and Young’s Brew Celebratory Birthday Beer for Keech Hospice Care
- Courage Directors "Make an Executive Decision"
- Estrella Damm is a hit on UK shores!
- Bombardier Advertising Hits Record Spend
- BOMBARDIER BEER LAUNCHES BANG ON! GUIDE TO FISHING
- Charles Wells Ltd placed in league for Top 250 Private Companies
- Wells and Young's hires following axquisition of McEwan's and Younger's ale brands
- WELLS AND YOUNG’S ACQUIRES McEWAN’S AND YOUNGER’S
- HISTORIC BREW BROUGHT BACK TO LIFE
- 'New cask drinkers offer lifeline' to struggling pubs
- BOMBARDIER BEER LAUNCHES BANG ON! GUIDE TO COOKING
- Charles Wells Ltd purchases 40% stake in Wells & Young’s Brewing Company Limited from Young and Co PLC
- Estrella Damm unveils elegant new bottle design
- Wells and Young's Gear Up for the Great British Beer Festival
- Bombardier Beer Launches Bang On! Guide to Golf
- Only the Best for Courage
- Estrella Damm reveals ‘pop-up’ gastronomic experience at ‘Taste of London’ festival
- Gold Rush for Wells and Young's
- Bombardier Beer Launches £4Million Marketing Communications Campaign
- Wells and Young's host European Beer Bloggers Convention
- Winner announced in Bombardier Beer Writing Competition
- Call for freeze on beer duty
- Firewalk for Charity
- Wells and Young's comment on Kirin Ichiban, Japan
- The Great English Knees Up
- £2,000 up for grabs in writing competition
- Wells and Young's Product Recall
- Push for Young's Bottle Conditioned Ales
- Wells and Young's Appoints Karmarama
- Charles Wells Ltd Results
- It's MO Joke as Wells and Young's celebrates Movember
- Jingle Ale the Way with Bombareindeer
- Eagle Beer Makes Its Mark At The Bedford Blues
- Ask The Brewer Part 1
- Estrella Damm Launches Cinema Adverts
- Wells and Young's Announcement
- Wells and Young's support for Keech
- Chatterbox Britain - Brits Spend Four and a Half Hours A Day in Conversation
- Young's Ram Rod makes a return to Cask
- Wells and Young's Accredit Supply Chain to ensure Best Cask Beer Quality
- Bedford's Beer Eagle swoops in for success
- Courage Appoints Boom
- Pubs Come Top in Poll of Englishness
- Young's Beers Triumph in Marketing Awards
- Bombardier Reveals Biggest Ad Campaign
- Red Stripe Launches Major Digital Push on Last.FM
- Wells and Young's is First Stop for Tory Campaign Trail
- Young's Launches £0.5 million campaign
- The Publican Awards 2010: Winners revealed
- Estrella Damm Joins Wells And Young's Speciality Beer Portfolio
- Biggest ever campaign to encourage responsible drinking announced
- Bombardier Poster Campaign Triumphs in National Ad Awards
- New Bombardier Can Completes Off-Trade Range
- Wells and Young's Add Weight to Licensed Charity Golf Tournament
- Wells and Youngs Celebrate Cask Ale Week
- Young's Launches New Beer for Cask Ale Week
- Banana Bread Beer Heads to Korea
Charles Wells Ltd Results
7th January 2011
Charles Wells Ltd announces an operating profit (pre-exceptional costs) for the year to September 2010 of £11m up 7.9% and a net profit before tax of £9.3m (up from £3m last year following the write-down of the distribution centre.)
The Charles Wells pubs, which numbered 251 tenanted and leased pubs at the year end, showed EBITDA rising 15% following a £25m investment in 2009. Twelve pubs were sold and four were re-opened following refurbishment.
In Wells and Young’s Brewing Company, EBITDA (before exceptional costs) has been maintained at £11m. Wells and Young’s total beer sales were up 0.8% in a declining market.
The John Bull managed pubs in France continue to contribute well to group profits and now number seven sites with the Robin Hood, Montpellier, opening in May 2010. Sales in this small chain are up 19%.
After the year-end, Wells and Young’s announced the departure of Corona Extra from the brand portfolio with effect from December 2010. The brewery has taken steps to secure the long-term stability going forward. The cost base has been lowered and Wells and Young’s Brewing Company will soon be debt free.
The vacated distribution centre in Bedford, the value of which was written down last year, has now been let on a long-term commercial basis.
Paul Wells, CEO said:
“We have delivered these improved profits despite a year of challenges from the economy and a declining beer market. An operating profit of £11m is a strong performance and is a reflection of everyone’s hard work.
“We spent the year integrating the 31 pubs which we purchased in 2009, and we re-opened four refurbished pubs. This led to the EBITDA per pub increasing by 15% which reflects the steady improvements in the quality of the estate.
“We launched two new beers to the UK market – Young’s London Gold, which is the third permanent Young’s beer, and Mongoose Premium Beer, a beer primarily for the Indian restaurant market and one which reflects our expertise at brewing Indian beers. We also signed a distribution agreement with the Spanish brewer Grupo Damm to import, market and distribute their flagship Estrella Damm premium lager.
“Wells and Young’s focus is of course cask beer, and this year has seen national advertising and significant marketing investment across our core range of cask beers Bombardier, Young’s, Courage and Eagle.
“Further afield, both Wells and Young’s export division and the John Bull Pub Company contributed well to group profit. Export grew by 3.3% and although we are continuing our focus in established markets such as Canada and France, we are also seeing promising growth in developing markets such as Sweden and Russia. The John Bull Pub Company, the group of pubs in France, opened its seventh site and reverted all the French sites to managed pubs.
“These are the last results with a full year of contribution from Corona Extra. We are proud to have built this brand from 50,000 cases in 1995 to a peak of five million.
“The duty escalator is still a major concern for the industry and with the VAT increase to 20% now in place there are significant increased pressures on the Great British pub. Last year I urged the Chancellor to realise the vital role played by pubs in their local economies – and I do the same this year. Pubs can only take so much, and we are in danger of losing hundreds of great pubs because of the tax burden placed on them. Pubs are at the absolute heart of their communities and part of the fabric of UK society.”
Paul Wells, CEO, says these improved results were delivered despite a year of challenges from the economy and a declining market.
Young's London Gold was launched in 2010 and is the third permanent cask beer in the Young's range.
The Park in Bedford, is one of the Charles Wells pubs re-opened in 2010 following refurbishment.