St Austell Brewery Delivers Another Year Of Growth And Unveils Major New Rebrand

St Austell Brewery has reported strong financial performance with a further year of record-breaking turnover and underlying EBITDA growth of 8.7% in the 52-week period to 28 December 2024. The family-owned company has also unveiled its first significant rebrand in 70 years.

The strong trading performance – and increased turnover of £231m – converted into an 8.7% increase in EBITDA (earnings before interest, tax, depreciation and amortisation) to £22.4m – demonstrating the positive momentum St Austell Brewery generated in 2024 despite the continued economic headwinds.

Gerard Barnes, Chairman, St Austell Brewery, said:
“I am pleased to report that despite the sustained challenges in the sector, the company has once again achieved record turnover, and importantly, has also converted this performance into increased EBITDA.

“While inflation has eased, a combination of fragile consumer confidence, higher taxation, the lowest number of visitors to the South West in a decade, and a second summer of disappointing weather, conspired to provide a challenging backdrop in 2024.

“The financial results represent continued momentum and positive progress against our strategic plans. As we continue to navigate the many challenges and evolving customer demands, our ambitious capital investment programme remains key to our long-term success.”

In 2024 St Austell Brewery invested £18.3m in capital expenditure across all areas of the business.

During the 52-week period, St Austell Brewery’s managed houses delivered strong sales growth, significantly outperforming the market with like for like growth of 13%. Building on the success of winning Best Accommodation Provider at the 2024 Publican Awards, the company was also awarded Best Brewing Pub Company in 2025. In addition, 35 of its managed pubs and nine tenanted pubs were recognised with Reputation 800 and 900 Awards – the gold standard for exceptional guest experience.

Further highlights from 2024 include the successful reopening of the iconic Pier House in Charlestown following a devastating fire in January 2023.

In the beer business, there was continued investment in the company’s brewing capability and its brands. 2024 saw the launch of Proper Job 0.5% – a strategic move into the no and low category. Following the investment into Harbour Brewing Company in 2022, the performance of its lead brand, Arctic Sky, continues to deliver strong growth + 78% on the previous year.

In parallel to announcing its annual results, the 174-year-old company has unveiled its first major rebrand in more than 70 years. The new brand identity aims to positively evolve the company and ensure it underpins St Austell Brewery’s ambitions for the future.

Kevin Georgel, Chief Executive, St Austell Brewery, said:
“I’m proud of the strong financial performance in 2024 which came off the back of a very strong 2023. The results are all the more meaningful given the challenging trading environment. Despite the sustained economic headwinds, and wider market challenges, the commitment and passion of our people, and the resilience of the company, have enabled us to deliver continued growth in both revenue and profits.”

“As we look forward, whilst the outcome of the autumn budget has created significant additional cost pressures – necessitating some difficult, but necessary decisions to review and reduce our operational structure – we remain resolutely focused on delivering our long-term strategy and sustainable growth.

“Our recent rebrand signals our intent to future-proof the company. The evolution of our brand isn’t just about a new identity, it’s about clarifying and refining our purpose, positively evolving our values, launching our new sustainability plan, and aligning everything we do with the world we want to help shape.

“Guided by extensive research and insight from both inside and outside of the business, we are committed to ensuring that we are fit for the future. The rebrand is a natural and considered step forward which underpins our ambitions for the future and the generations to come.”

Kevin added: “Next year we celebrate 175 years of St Austell Brewery. Drawing on our rich heritage, through the evolved brand story, we’re proud to unveil a clearer, more confident vision for the future. This is more than a new visual identity. It represents a thoughtful, holistic evolution of our brand – designed to reinforce our position in the market and support the next phase of our growth. More importantly, it’s a statement of intent and demonstrates our commitment to our people, our guests, and the great experiences we deliver

“With encouraging financial results, a bold new identity and ongoing investment across our pubs, brands and our people, St Austell Brewery remains firmly on a growth trajectory.”

Stonegate plans for job cuts following Aprils Tax Hikes

The UK’s largest pub chain, Stonegate Group, is, according to reports planning a significant reduction in workforce to streamline its highly indebted corporate structure.

As part of this measure, up to 150 jobs at the company’s headquarters are to be cut. This development follows recent tax increases by Chancellor Rachel Reeves, which have significantly impacted the hospitality sector.

According to The Telegraph, the company, which operates 4,000 establishments across the country, including the Craft Union and Slug & Lettuce brands, has been discussing options with AlixPartners to streamline operations.

The move follows a difficult period for the TDR Capital-owned company, and the proposed job reductions are partly attributed to a strategic shift from managed pubs, which require more resources and head office staff, to leased and tenanted pubs that have proven more profitable.

A Stonegate spokesperson highlighted the need to reorganize support functions due to rising costs following recent budget changes, particularly those affecting National Insurance contributions

This will be Stonegate’s second round of job cuts in two years, after making 250 redundancies in 2023.

The company is also reevaluating rents and supplier agreements as part of its restructuring strategy.

Earlier this month a survey of hospitality operators from across the sector laid bare the impact of recent increases to employer National Insurance Contributions (NICS) and the changes to Business Rates on hospitality businesses.

Undertaken by industry bodies, UKHospitality, The British Institute of Innkeeping, the British Beer & Pub Association, and Hospitality Ulster, the survey revealed that one third of hospitality businesses are now operating at a loss. This represents an 11 percentage point increase on the last quarter.

Furthermore, 6 in 10 report that they have had to cut jobs, and 63% have reduced the hours available to staff, in order to try and mitigate the increases and stay afloat.