Valuation Update With 7 Day Price Move • May 19
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to UK£2.25, the stock trades at a trailing P/E ratio of 4.1x. Average trailing P/E is 15x in the Hospitality industry in the United Kingdom. Total returns to shareholders of 130% over the past three years. Reported Earnings • Mar 18
Full year 2025 earnings released: EPS: UK£0.54 (vs UK£0.27 in FY 2024) Full year 2025 results: EPS: UK£0.54 (up from UK£0.27 in FY 2024). Revenue: UK£7.63m (up 1.7% from FY 2024). Net income: UK£2.62m (up 99% from FY 2024). Profit margin: 34% (up from 18% in FY 2024). Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Mar 17
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 4 experienced directors. 2 highly experienced directors. 1 independent director (6 non-independent directors). Independent Non-Executive Director Chris Bush was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Declared Dividend • Feb 23
First half dividend of UK£0.038 announced Shareholders will receive a dividend of UK£0.038. Ex-date: 12th March 2026 Payment date: 24th April 2026 Dividend yield will be 4.1%, which is higher than the industry average of 2.1%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 3.7% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Feb 21
The Heavitree Brewery PLC, Annual General Meeting, Apr 15, 2026 The Heavitree Brewery PLC, Annual General Meeting, Apr 15, 2026. Location: the registered office, United Kingdom Board Change • Feb 04
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 4 experienced directors. 2 highly experienced directors. 1 independent director (6 non-independent directors). Independent Non-Executive Director Chris Bush was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. New Risk • Jan 13
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended April 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (38% increase in shares outstanding). Minor Risks Latest financial reports are more than 6 months old (reported April 2025 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Market cap is less than US$100m (UK£11.8m market cap, or US$15.9m). Board Change • Dec 31
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 4 experienced directors. 2 highly experienced directors. 1 independent director (6 non-independent directors). Independent Non-Executive Director Chris Bush was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Nov 26
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 4 experienced directors. 2 highly experienced directors. 1 independent director (6 non-independent directors). Independent Non-Executive Director Chris Bush was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Aug 29
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 4 experienced directors. 2 highly experienced directors. 1 independent director (6 non-independent directors). Independent Non-Executive Director Chris Bush was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Jul 14
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 4 experienced directors. 2 highly experienced directors. 1 independent director (6 non-independent directors). Independent Non-Executive Director Chris Bush was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. New Risk • Jul 10
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 38% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (38% increase in shares outstanding). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Market cap is less than US$100m (UK£11.5m market cap, or US$15.6m). Declared Dividend • Jul 02
First half dividend of UK£0.028 announced Shareholders will receive a dividend of UK£0.028. Ex-date: 10th July 2025 Payment date: 1st August 2025 Dividend yield will be 4.3%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by both earnings (17% earnings payout ratio) and cash flows (52% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 11% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Jul 02
First half 2025 earnings released: EPS: UK£0.23 (vs UK£0.12 in 1H 2024) First half 2025 results: EPS: UK£0.23 (up from UK£0.12 in 1H 2024). Revenue: UK£3.52m (up 3.6% from 1H 2024). Net income: UK£1.13m (up 97% from 1H 2024). Profit margin: 32% (up from 17% in 1H 2024). Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 6% per year. Announcement • Jun 29
The Heavitree Brewery plc Recommends Payment of Dividend, Payable on 01 August 2025 The Heavitree Brewery PLC recommend the payment of an increased interim dividend at a rate of 2.75 pence (2024: 2.25 pence) per Ordinary and 'A' Ordinary share to those shareholders on the register on 11 July 2025. The dividend will be payable on 01 August 2025. This represents an increase of 22.22% on last year's interim dividend. Board Change • Apr 04
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 4 experienced directors. 2 highly experienced directors. 1 independent director (6 non-independent directors). Independent Non-Executive Director Chris Bush was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Mar 24
Full year 2024 earnings released: EPS: UK£0.27 (vs UK£0.31 in FY 2023) Full year 2024 results: EPS: UK£0.27 (down from UK£0.31 in FY 2023). Revenue: UK£7.50m (up 2.1% from FY 2023). Net income: UK£1.32m (down 13% from FY 2023). Profit margin: 18% (down from 21% in FY 2023). Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has fallen by 4% per year. Board Change • Mar 19
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 4 experienced directors. 2 highly experienced directors. 1 independent director (6 non-independent directors). Independent Non-Executive Director Chris Bush was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Feb 24
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 4 experienced directors. 2 highly experienced directors. 1 independent director (6 non-independent directors). Independent Non-Executive Director Chris Bush was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Feb 20
The Heavitree Brewery PLC, Annual General Meeting, Apr 16, 2025 The Heavitree Brewery PLC, Annual General Meeting, Apr 16, 2025. Board Change • Jan 17
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 2 highly experienced directors. 1 independent director (5 non-independent directors). Independent Non-Executive Director Chris Bush was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Jan 16
The Heavitree Brewery plc Announces CEO Changes, effective on 1 February 2025 The Heavitree Brewery PLC announced that Graham Crocker the current Managing step back from his role to facilitate a succession change within the Board of Directors; the Board has agreed that he will remain a full time Executive Director until April 2026 in order to oversee a smooth transition. Mr. Terry Wheatley currently Trade Director and an existing Board member, will become Managing Director. Terry Joined the Company in 2000 as a Tenancy Manager. Appointed to the board as Trade Director in 2003 and has overall responsibility for the operation of the Company's tenanted estate. Previous positions have included Area Operations Manager for Greenall's and Scottish & Newcastle and public house management for Devenish. Terry has been in the hospitality industry since the age of 16 and was one of the youngest licensees in the UK at the age of 19. Board Change • Dec 10
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 2 highly experienced directors. 1 independent director (5 non-independent directors). Independent Non-Executive Director Chris Bush was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Declared Dividend • Jul 01
First half dividend of UK£0.022 announced Shareholders will receive a dividend of UK£0.022. Ex-date: 11th July 2024 Payment date: 2nd August 2024 Dividend yield will be 3.6%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by earnings (21% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend. Reported Earnings • Jul 01
First half 2024 earnings released: EPS: UK£0.12 (vs UK£0.15 in 1H 2023) First half 2024 results: EPS: UK£0.12 (down from UK£0.15 in 1H 2023). Revenue: UK£3.40m (up 2.1% from 1H 2023). Net income: UK£569.0k (down 23% from 1H 2023). Profit margin: 17% (down from 22% in 1H 2023). Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Jun 30
The Heavitree Brewery plc Recommends Interim Dividend, Payable on 02 August 2024 The Directors of The Heavitree Brewery PLC recommend the payment of an increased interim dividend at a rate of 2.25 pence (2023: 2.0 pence) per Ordinary and 'A' Ordinary share to those shareholders on the register on 12 July 2024. The dividend will be payable on 02 August 2024. Upcoming Dividend • Mar 07
Upcoming dividend of UK£0.035 per share Eligible shareholders must have bought the stock before 14 March 2024. Payment date: 19 April 2024. Payout ratio is a comfortable 18% but the company is not cash flow positive. Trailing yield: 4.7%. Lower than top quartile of British dividend payers (6.3%). Higher than average of industry peers (2.1%). Declared Dividend • Feb 22
Final dividend of UK£0.035 announced Shareholders will receive a dividend of UK£0.035. Ex-date: 14th March 2024 Payment date: 19th April 2024 Dividend yield will be 3.7%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by earnings (18% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has remained flat since 10 years ago. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 80% to shift the payout ratio to a potentially unsustainable range, which is more than the 4.9% EPS decline seen over the last 5 years. Reported Earnings • Feb 20
Full year 2023 earnings released: EPS: UK£0.31 (vs UK£0.41 in FY 2022) Full year 2023 results: EPS: UK£0.31 (down from UK£0.41 in FY 2022). Revenue: UK£7.35m (flat on FY 2022). Net income: UK£1.50m (down 24% from FY 2022). Profit margin: 20% (down from 27% in FY 2022). Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Aug 07
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to UK£1.70, the stock trades at a trailing P/E ratio of 4.5x. Average trailing P/E is 26x in the Hospitality industry in the United Kingdom. Total loss to shareholders of 8.6% over the past three years. Upcoming Dividend • Jul 06
Upcoming dividend of UK£0.02 per share at 2.8% yield Eligible shareholders must have bought the stock before 13 July 2023. Payment date: 04 August 2023. Payout ratio is a comfortable 14% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of British dividend payers (6.0%). Higher than average of industry peers (1.8%). Reported Earnings • Jun 30
First half 2023 earnings released: EPS: UK£0.15 (vs UK£0.18 in 1H 2022) First half 2023 results: EPS: UK£0.15 (down from UK£0.18 in 1H 2022). Revenue: UK£3.33m (up 1.1% from 1H 2022). Net income: UK£734.0k (down 14% from 1H 2022). Profit margin: 22% (down from 26% in 1H 2022). Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Jun 29
The Heavitree Brewery PLC Recommends Payment of Interim Dividend for 2022, Payable on August 4, 2023 The Heavitree Brewery PLC announced payment of a dividend at the 2022 year-end. The Directors recommend the reinstatement of an interim dividend at a rate of 2p per Ordinary and 'A' Ordinary share to those shareholders on the register on 14th July 2023 payable on 4th August 2023. The payment of future dividends in these times of uncertainty remains under continual review. Valuation Update With 7 Day Price Move • May 30
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to UK£1.35, the stock trades at a trailing P/E ratio of 3.3x. Average trailing P/E is 23x in the Hospitality industry in the United Kingdom. Total returns to shareholders of 3.6% over the past three years. Valuation Update With 7 Day Price Move • Apr 12
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to UK£1.32, the stock trades at a trailing P/E ratio of 3.3x. Average trailing P/E is 19x in the Hospitality industry in the United Kingdom. Total returns to shareholders of 5.2% over the past three years. Upcoming Dividend • Mar 09
Upcoming dividend of UK£0.035 per share at 3.5% yield Eligible shareholders must have bought the stock before 16 March 2023. Payment date: 21 April 2023. Payout ratio is a comfortable 8.6% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of British dividend payers (5.6%). Higher than average of industry peers (1.5%). Reported Earnings • Feb 19
Full year 2022 earnings released: EPS: UK£0.41 (vs UK£0.17 in FY 2021) Full year 2022 results: EPS: UK£0.41 (up from UK£0.17 in FY 2021). Revenue: UK£7.28m (up 58% from FY 2021). Net income: UK£1.97m (up 146% from FY 2021). Profit margin: 27% (up from 17% in FY 2021). Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 2 highly experienced directors. 1 independent director (5 non-independent directors). Independent Non-Executive Director Chris Bush was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Nov 09
Investor sentiment deteriorated over the past week After last week's 22% share price decline to UK£1.45, the stock trades at a trailing P/E ratio of 4.2x. Average trailing P/E is 11x in the Hospitality industry in the United Kingdom. Total loss to shareholders of 34% over the past three years. Reported Earnings • Jun 30
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (up UK£86.0k from 1H 2021). Profit margin: (up from net loss in 1H 2021). Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 5 non-independent directors. Independent Non-Executive Director Chris Bush was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 30
Full year 2021 earnings released: EPS: UK£0.17 (vs UK£0.024 in FY 2020) Full year 2021 results: EPS: UK£0.17 (up from UK£0.024 in FY 2020). Revenue: UK£4.62m (down 8.0% from FY 2020). Net income: UK£801.0k (up UK£687.0k from FY 2020). Profit margin: 17% (up from 2.3% in FY 2020). Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Reported Earnings • Feb 16
Full year 2021 earnings: Revenues in line with analyst expectations Full year 2021 results: Revenue: UK£4.93m (down 1.8% from FY 2020). Net income: UK£801.0k (up UK£687.0k from FY 2020). Profit margin: 16% (up from 2.3% in FY 2020). Revenue was in line with analyst estimates. Reported Earnings • Jun 26
First half 2021 earnings released: UK£0.018 loss per share (vs UK£0.03 profit in 1H 2020) The company reported a poor first half result with weaker earnings, revenues and control over costs. First half 2021 results: Revenue: UK£846.0k (down 68% from 1H 2020). Net loss: UK£86.0k (down 161% from profit in 1H 2020). Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 19
Full year 2020 earnings released: EPS UK£0.024 (vs UK£0.32 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: UK£5.02m (down 33% from FY 2019). Net income: UK£114.0k (down 93% from FY 2019). Profit margin: 2.3% (down from 20% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Reported Earnings • Feb 17
Full year 2020 earnings released The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: UK£5.34m (down 29% from FY 2019). Net income: UK£114.0k (down 93% from FY 2019). Profit margin: 2.1% (down from 20% in FY 2019). The decrease in margin was driven by lower revenue. Is New 90 Day High Low • Dec 07
New 90-day low: UK£2.85 The company is down 7.0% from its price of UK£3.05 on 08 September 2020. The British market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is up 21% over the same period.