Harvey's beats pre-Covid sales record
Profit before tax increased by 16.76% to £3.37m during the financial year.
Harvey’s said cash resources remain high but there are “plenty of investment opportunities ahead”.
The company said growth had been more predictable than in 2022, although sales to the independent pub sector remained “patchy” throughout the year.
Stability
Despite many customers experiencing cash flow issues, trade debtors were better than pre-covid. Rental income was also strong showing tenant stability.
Investments saw Harvey’s complete its pub decorations programme and carry out overdue enhancements of listed buildings in Crawley, East Grinstead and Burwash.
The company said its managed houses were not immune to commercial pressures around staffing, utility costs, business rates and inflation, but mostly performed to a satisfactory level.
Seven tenancies changed hands during the period, with no active vacancies at the year end.
Family business
A highlight of the year for the brewing business was Harvey’s Dark Mild being awarded Champion Mild Ale of the Britain at the Great British Beer Festival in London.
Harvey’s was founded in Lewes, East Sussex, in 1790 and is the oldest independent brewery in Sussex.
The family business now operates 45 tied houses, most of which are in Sussex with three in London, and is known for its core range including Sussex Best Bitter.
Harvey’s Sussex Best Bitter was also the tenth best-selling cask beer in the on-trade last year having sold 23,982 hectolitres of the beer, according to The Morning Advertiser’s (MA) Drinks List 2024.
