| Wadworth & Co Ltd – Ordinary Shares | GB0009325894 |
| Wadworth & Co Ltd – A Ordinary Shares | GB0009326975 |
| Wadworth & Co Ltd – 9.5% Preference Shares | GB0009327619 |
| Wadworth & Co Ltd – 10.25% Preference Shares | GB0009326645 |
Wadworth and Company Limited (company number 00030177) is a long-established independent brewery and pub company based in Devizes, Wiltshire, England.
Wadworth & Co was not listed on a public stock exchange, so there is no formal “delisting” event from an exchange; however, the company transitioned its trading venue for shares to the Asset Match Private Market, with admission announced in February 2023. The brewery also relocated from its historic Northgate site to a new facility in 2023, which aligns with changes in its operations but not a delisting from a securities exchange. Wadworth remains an active private company with its shares tradable between existing shareholders through this secondary market platform and is not formally delisted from any major stock exchange.
Financial Performance
Revenues: Turnover rose to £36.3m for the year ended December 2022 (from £25.1m in 2021), with improvements in EBITDA to £3.6m (from £1.6m). Recent figures suggest continued stabilization, with net assets around £77.9m (2023) and operating profits at £2.7m (2023), which recovered from a series of prior operating losses around 2020–2021 due to the pandemic’s impact and cost inflation.
Profitability: The company experienced pre-tax losses in 2022 (£5.38m), mainly due to post-COVID operational costs, increased utility expenses, and economic uncertainty. Operating profit in 2023 returned positive (£2.7m), compared to near-zero or negative figures in earlier years.
Dividends Paid ( lack of )
In 2020, the Board deferred interim dividends on cumulative preference shares for up to six months to conserve cash due to pandemic-driven pressures. There is no public evidence of ordinary share dividends in recent years as the company prioritized cash preservation and operational recovery. There is no specific indication of resumed dividend payments up to 2025.
In 2020, the Board deferred interim dividends on cumulative preference shares for up to six months to conserve cash due to pandemic-driven pressures. There is no public evidence of ordinary share dividends in recent years as the company prioritized cash preservation and operational recovery. There is no specific indication of resumed dividend payments up to 2025.
Strategy Changes
- Brewery Relocation & Modernization: In 2021, Wadworth announced plans to move from its historic Northgate site in Devizes to a new, modern brewery in Folly Road, completed in 2023. This strategic move aims to address inefficiencies and align with shifts in the beer industry (e.g., a focus on craft and keg beers).
- Brand & Product Evolution: Alongside operational modernization, the company rebranded, launched new craft beer lines, and diversified its product portfolio while retaining core traditional ales.
- Adaptation Post-COVID: The company restructured operations, focused on managed pub sales, and extended borrowing facilities to navigate inflation, energy costs, and post-pandemic market trends.
Major Asset Disposals
- Pub Estate Reductions: The number of managed pubs was significantly reduced:
- Historic Brewery Redevelopment (2025): Plans were submitted to transform the historic Northgate Street brewery into residential apartments and homes, reflecting a major asset disposal and functional shift for the iconic site.
Contact us for pricing:
