Pub group Stonegate has reported record adjusted EBITDA for the 28 weeks to 12 April 2026, up £17m to £201m, as the transformation of its estate from managed to leased and tenanted continues.

More than 110 sites were transitioned during the half year period, with leased and tenanted now making up 74 percent of its total venue portfolio, while 10 percent is still managed, and the remaining 16 percent operates under the Craft Union banner.

“The strategy we set out is working, and these results are a clear demonstration of that,” said CEO David McDowall. “By repositioning our estate and driving efficiencies across the business, we are building a stronger, more focused Stonegate that is delivering for the partners and publicans at the heart of our business and accelerating our profit growth, providing a clear path to deleveraging.”

“There is real momentum here, and that is a testament to the hard work of our team and the quality of the operators we work alongside. We have made considerable progress, but our ambition does not stop here. The next phase is about consolidating this progress and continuing to shape an estate that is resilient, community-driven and built to last.”