On 24 November 2022, Hydes held their annual shareholder briefing. Neil Kellett and Ian Brindley attended on behalf of the committee.
The company reported that, despite the well-publicised headwinds facing the industry, the pubs were trading well and profits were ahead of budget. Margins have been squeezed and they are focussing on maintaining sales, which has inevitably affected profit margins. They outlined a number of initiatives that have been undertaken and events organised to boost trade.
The company continues to offer a programme of seasonal cask ales and continues their commitment to the beer style. Energy costs are fixed for the next couple of years, which is proving a great help.
With a modest buffet lunch provided and an opportunity to sample the company’s ales, your club representatives left the meeting satisfied that the company continues to perform well in the circumstances.
Neil Kellett & Ian Brindley – CMIC Committee Members