Punch Taverns on target for full year

first_img whatsapp Show Comments ▼ John Dunne Friday 17 December 2010 3:37 am by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Tags: NULLcenter_img whatsapp Britain’s biggest pubs group Punch Taverns said it was on track to meet full-year targets after an investment programme and support for tenants helped its recently-noted improved trading to continue.Punch, which has over 7,100 pubs across Britain, said the improved trading momentum recorded in the fourth quarter had continued in the 16 weeks to 11 December, despite an impact from bad weather in the last two weeks of the reported period.Punch said the average core earnings per pub from its leased division was down 1.7 per cent, which it said reflected disposals in the non-core estate.Support for tenants through the Pathway to Partnership programme helped to deliver benefits as the rate of like-for-like EBITDA decline improved in the period, it said.Punch said it had continued to invest just under £2m each month to help struggling tenants stay afloat, maintaining that level for more than 12 months. The support is provided through rent concessions and product discounts.Like-for-like sales growth in the managed pubs division was at 2.2 per cent as the pub investment programme continued.“The actions taken to strengthen both the Leased and Managed businesses have resulted in an improved trading performance in the first 16 weeks of the financial year,” said Chief Executive Ian Dyson.“We are now looking to build on this momentum by focussing on further operational improvement across the business.” Dyson said his strategy review had continued and he would give an update in the first quarter of 2011. Punch Taverns on target for full year Share last_img

Leave a Reply

Your email address will not be published. Required fields are marked *