Daniel Thwaites : Annual Report 2023

A N N U A L R E P O R T & A C C O U N T S 2 0 2 3

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Contents

FINANCIAL HIGHLIGHTS	5
STRATEGY	6
CHAIRMAN'S STATEMENT	8
STRATEGIC REPORT
OPERATING REVIEW	11
FINANCIAL REVIEW	14
PROMOTINGTHE SUCCESS OF OUR COMPANY S172 (1) STATEMENT	16
PRINCIPAL RISKS AND UNCERTAINTIES	18
SUSTAINABILITY	21
GOVERNANCE
BOARD OF DIRECTORS	23
REPORT OFTHE DIRECTORS	24
CORPORATE GOVERNANCE	26
INDEPENDENT AUDITOR'S REPORT	28
FINANCIAL STATEMENTS
GROUP PROFIT AND LOSS ACCOUNT	33
GROUP BALANCE SHEET	34
GROUP AND PARENT STATEMENT OF CHANGES IN EQUITY	35
GROUP STATEMENT OF CASH FLOWS	36
PARENT BALANCE SHEET	37
ACCOUNTING POLICIES	38
NOTESTOTHE ACCOUNTS	42
ANNUAL GENERAL MEETING	56
SHAREHOLDER INFORMATION	58

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About U

Daniel Thwaites PLC is one of the UK's longest established family brewers with a strong regional presence in the North of England.

We have an estate of approximately 300 freehold properties, comprising pubs, inns, hotels & spas and our craft brewery. Our strong family connections shape the way we do business with an eye for quality and a generous blend of innovation, craftsmanship and warm hospitality.

We look for our properties to be the best in their local market place, and to drive value for our shareholders and customers who put their trust in us to deliver superb hospitality in outstanding properties in great locations and of course, brew some fabulous beers along the way.

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Financial Highlight

TURNOVER

£108.8m

2022: £96.0m

PROFIT BEFORETAX

£15.1m

2022: £12.7m

NET DEBT £m

		78.8
69.7	65.4		61.6	66.7
2019	2020	2021	2022	2023

OPERATING PROFIT

£12.3m

2022: £13.3m

EARNINGS PER SHARE

21.9p

2022: 20.6p

NET ASSETS PER SHARE £

				4.12
			3.62
3.07	3.02	3.00
2019	2020	2021	2022	2023

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