Daniel Thwaites plc (THW), the Blackburn-based hospitality group operating pubs, inns, hotels and spas across the UK, has reported turnover of £69.3m for the six months ended 30 September 2026, a 4% increase on the £66.7m recorded in the same period last year. Operating profit rose to £11.2m from £10.1m, while earnings per share climbed 25% to 14.1p. The Board has recommended an interim dividend of 1.0p per share, payable on 8 January 2027 to shareholders on the register on 11 December 2026.

Key Points

  • Daniel Thwaites plc (THW) — UK pubs, inns, hotels and spas operator
  • Turnover up 4% to £69.3m; operating profit up to £11.2m; earnings per share up 25% to 14.1p for the six months ended 30 September 2026
  • Net debt stood at £68.7m against total banking facilities of £82.5m; interim dividend of 1.0p per share declared, up from 0.95p in 2025
  • Investors may watch how consumer confidence and cost pressures in hospitality affect second-half trading

World Cup Trading Boost and Langdale Chase Growth Drive Thwaites Profit Increase

Daniel Thwaites attributed the revenue and profit improvement in part to favourable conditions in the period, including a long dry summer and the football World Cup, which the Chairman's statement describes as delivering brisk trade across the pubs estate. The operating profit uplift was also supported by a £0.8m profit on the disposal of a development site, Langdale Chase Hotel's continued growth ahead of management expectations, and cautious price increases applied across the estate. Operating profit before property disposals was £10.4m, compared with £10.0m in the prior-year period.

Inns Up 4% in Sales, Hotels Post 6% Room Sales Growth and 7% Health Club Membership Rise

The inns division reported sales growth of 4% and profit growth of 6%, supported by major refurbishments completed in the prior year and a focus on cost control. The hotels and spas segment recorded room sales up 6% year on year, with health club memberships growing 7%. More discretionary categories — including food, spa treatments and meetings — were described as weaker. Langdale Chase was awarded five AA Red Stars and was named a Condé Nast Traveller Readers' Choice winner. The Bulls Head, Earlswood and The Royal, Heysham also received regional tourism awards during the period.

Thwaites Invests £9.9m in Properties and Completes Eight Pub Refurbishment Schemes

The company invested £9.9m in its property portfolio during the half year, exceeding the prior-year level due to a greater number of schemes and significantly higher building costs. Major completions included a FYR restaurant and bar at Thorpe Park Hotel & Spa, bedroom refurbishments at Lister Farmhouse, Malham, and a new beer garden at The Crown, Pooley Bridge. Eight pub investment schemes were completed, including a large sports pub conversion at the Clarence, Blackpool. Two pubs were sold in the period, generating proceeds of £2.3m and a disposal profit of £0.8m.

Thwaites Buys Back 640,000 Shares and Flags Caution Over Hospitality Cost Headwinds

The company repurchased 640,000 shares during the period at an average price of 93.0p, which have been cancelled, leaving 56,000,000 shares in issue. Net debt increased to £68.7m, though the company states it has comfortable headroom within its £82.5m banking facilities. Chairman Richard Bailey flagged ongoing concerns over energy costs, employment costs for young workers, and business rates as structural pressures on the sector, noting that trade has softened into September and October and that the outlook for the remainder of the year is described as cautious.