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CLH News #248 December '22/January '23

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THE LEADING PUBLICATION FOR THE INDEPENDENT HOSPITALITY SECTOR Page 2 Pages 20-21

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Outdoor Spaces Products and Services

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Property and Professional

CLHNews ISSUE 248

Dec 22/Jan 23

Pubs & Bars Enjoy “Record Year of Growth” as Revenue Grows 134%

The licensed on-trade sector enjoyed a year of record growth, following two years hampered by lockdown restrictions and forced closures as a result of the Covid pandemic. Industry revenues grew to £15.4bn in the year to August 2022; an increase of 134.5% from the year to August 2021, according to a report by accountants and business advisers Gerald Edelman. The report says that this growth is expected to continue, with revenues forecast to grow by a further 29.6% in the year to August 2023, largely due to the expec-

tation of a full year of trading without lockdown restrictions. Despite this, progress is expected to be offset by changes in work and lifestyle habits, such as the prevalence of working from home, and rising costs are likely to further squeeze industry margins. The impact of the anticipated recession is also a key factor that has not been modelled into the forecasts for the sector.

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