Stonegate Group has published its financial results for the 53 weeks ending 29 September 2024, reaffirming its belief in the “resilience of the Great British Pub.”

Total group revenue reached £1.747bn, a modest increase from the £1.719bn recorded the previous year. Within this, managed pubs generated £974m, slightly down from £1.011bn in 2023. Leased and tenanted pubs brought in £440m, up from £427m, while the operator-led segment rose to £333m, compared to £281m previously. Meanwhile, pre-exceptional operating profit rose to £336m from £293m, and post-exceptional operating profit grew significantly to £249m from £68m. The group reported a pre-tax loss of £214m, an improvement on the £257m loss in 2023.

Stonegate acknowledged that economic headwinds and the cost of living crisis have impacted profit and cashflow. However, it maintains the group has performed admirably, crediting the strength of its pub portfolio. The operator invested £148m in capital projects including expansion, conversion, and maintenance, while disposing of 70 trading venues, five non-licensed and two non-trading properties for £58m.

“Despite the ongoing challenges in the hospitality sector, 2024 has once again demonstrated the resilience of the Great British Pub,” the company stated.