JW Lees Posts Record Turnover and Profit Despite Tough Trading Backdrop
North-west brewer and pub operator JW Lees has posted the strongest financial results in its history, reporting turnover of £105.6m and pre-tax profit of £8.8m for the year to 31 March 2026, even as the wider hospitality sector continues to battle rising costs.
The figures represent a 5.7% increase in revenue on the £99.9m recorded the previous year, while EBITDA climbed by nearly 14% to £12.3m.
The company said the milestone reflected the efforts of staff across its three divisions – managed houses, pub partners and brewing – and pointed to its long-standing focus on values including honesty, teamwork and pride in the business.
Beer sales and Boddingtons return
Core draught beer sales rose 3.7% over the year, a period that also saw JW Lees reintroduce Boddingtons Cask Bitter after a 12-year absence from its range. The brewer now produces and distributes the beer under licence from Budweiser Brewing Group.
Leadership changes and estate investment
From April 2027, the group’s managed pubs and inns & hotels divisions will be brought together under a single leadership structure, with Chris Moulson taking on the newly combined role of director of operations.
JW Lees, now in its seventh generation as a family-run brewer, said it had ploughed more than £10m into its estate over the year. That included over 20 major refurbishments and further expansion of its retail operator model, which now covers eight sites. The company’s wider estate comprises 138 pubs in total, among them 45 directly managed venues and 85 run through pub partner arrangements.
Two new sites have also joined the estate: the Royal Oak in Glossop and the Bull’s Head in Poynton. Both are undergoing refurbishment ahead of planned reopenings, with the Royal Oak due to welcome customers again this month and the Bull’s Head following in September.
Industry recognition
The past year also brought a string of accolades for the business. JW Lees topped the KAM 2025 Tenant Track survey, was named Private Business of the Year, and featured in the FTSE 2026 High Growth 50 list. Managing director William Lees-Jones was separately recognised as Business Leader at this year’s Publican Awards.
Warm summer credited, but headwinds remain
Commenting on the results, Lees-Jones said the record turnover and profitability were driven in part by a strong start to the year, noting that last summer’s warm weather helped teams across the business “drive higher productivity to new levels.”
However, he struck a more cautious note on the broader trading environment, saying brewing and hospitality remain under pressure from steep rises in labour costs, elevated business rates and what he described as limited government support.
Lees-Jones said he hoped Mayor of Greater Manchester Andy Burnham could help deliver policies more supportive of the hospitality trade and the jobs it sustains.
He was also critical of recent changes to Business Property Relief introduced by Chancellor Rachel Reeves, warning that family firms such as JW Lees now face higher future inheritance tax liabilities for family shareholders — a shift he argued would ultimately curb reinvestment in the business.
Lees-Jones added that, at a time when the UK economy needs growth, the changes risked giving an advantage to overseas companies and private equity firms not exposed to the same costs, at the expense of UK family businesses — which he pointed out account for more than half of all private sector jobs in the country.
Despite the challenges, he insisted JW Lees remained committed to its independence: “JW Lees will do whatever it takes to remain a family company” as it approaches its 200th anniversary in 2028.