Pub company Spirit today reported continued progress for both its managed and tenanted estates during the third quarter.

To send a link to this page to a friend, you must be logged in.

Like-for-like sales within its managed pubs division in the 12 weeks to May 24 were 6.0% up on the same period a year earlier, taking growth for the first 40 weeks of the group’s financial year to 5.2%.

The group said the managed estate had traded ahead of the market, with “good momentum” maintained in both food and drink sales.

Within the leased estate, like-for-like net income growth accelerated to 5.3% during the third quarter, against 3.6% for the year-to-date, despite like-for-like growth in net turnover slowing to 2.5%, compared with 3.0% for the year so far.

Spirit said the figures reprented a third consecutive quarter of new income growth for the leased esate, illustrating “the continued benefit of our turnaround actions”.

Spirit’s businesses include the Chef & Brewer, Fayre & Square and Flaming Grill pub restaurant brands and the drink-led John Barras and Taylor Walker chains.

Its properties in East Anglia include the Royal George in Ipswich, the Red Lion at Martlesham, the Grosvenor in Felixstowe, the Rovers Tye in Colchester and the Rose & Crown in Wivenhoe.

Mike Tye, chief executive, said: “We remain pleased with the strong performance over the quarter, with both divisions continuing to demonstrate the benefits of investment in our estate, infrastructure and people.

“In our managed division, we have now commenced our planned expansion of the estate and we continue to see the benefits of the turnaround in the leased division.”

0 comments

Comments

Welcome , please leave your message below.

Optional - JPG files only
Optional - MP3 files only
Optional - 3GP, AVI, MOV, MPG or WMV files
Comments

Please log in to leave a comment and share your views with other East Anglian Daily Times visitors.


We enable people to post comments with the aim of encouraging open debate.

Only people who register and sign up to our terms and conditions can post comments. These terms and conditions explain our house rules and legal guidelines.

Comments are not edited by East Anglian Daily Times staff prior to publication but may be automatically filtered.

If you have a complaint about a comment please contact us by clicking on the Report This Comment button next to the comment.

Forgotten your password?


Not a member yet?

Register to create your own unique East Anglian Daily Times account for free.

Signing up is free, quick and easy and offers you the chance to add comments, personalise the site with local information picked just for you, and more.

Sign up now

ADVERTISEMENT

ADVERTISEMENT

loading...

ADVERTISEMENT

ADVERTISEMENT