An historic Salford-based brewery has notched up a record turnover. The family-owned Hydes, which was founded in 1863, delivered a turnover of £34.1m for the year ending April 2023, despite tough economic conditions and the cost of living crisis.
This is up £5.8m on 2022’s figure of £28.3m. Hydes brewery is in Media City,. with one of its drinks called Lowry. It supplies beers to wholesalers, pub companies and other brewers throughout the UK and a pub retailing estate of nearly 50 pubs across the North West of England and North Wales.
Soaring inflation, high energy costs, a tight labour market and rising interest rates have all meant extremely difficult trading conditions for the hospitality industry as a whole.
But Hydes say decisions made in previous years to fix energy costs until 2024 and enter long term contracts with major suppliers ensured the business was shielded from some of the worst financial impacts of inflation.
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