Revenue And Margin ExpansionSustained double-digit revenue growth alongside an improved gross margin and healthy EBITDA margin indicates durable demand and operational efficiency across brewing and pub operations. This supports reinvestment, network maintenance and long‑term margin resilience versus peers.
Free Cash Flow StrengthA large, sustained increase in free cash flow improves financial flexibility, enabling capex, site investment and dividends without reliance on new financing. Strong cash conversion provides a durable buffer versus cyclical revenue dips in hospitality.
Conservative LeverageModerate leverage and a high equity ratio reflect a conservative capital structure, lowering refinancing and interest risk. This balance supports strategic investment in the pub estate and product distribution while preserving flexibility through industry cycles.