Peach profit up by a third

Start a new thread22-Sep-2011

Related topics: Company & City News

Peach Pub Company Holdings, the holding company of the multiple operator, increased pre-tax profits by more than one-third in 2010 and said it plans to open up to three sites this year.

Stoddart: scale of company is starting to help us

Stoddart: scale of company is starting to help us

Pre-tax profits were £406,670 (previous year: £298,156) on turnover up 21% to £16.3m for the year to 2 January 2011.
The figures are based on 13 pubs, up from 10 in the previous year — the company added a 14th, the White Horse in Harpenden, Hertfordshire, in May.

Peach director Hamish Stoddart said details of the company’s 15th site, which has yet to be completed, are due to be announced soon.

“The basic plan is to do three a year, but only sites that are good. I’m optimistic we can do it if the pub is the right site at the right cost.

“There’s opportunity to trade well in the current trading environment.”

Stoddart said the scale of the company is “starting to help us” when it comes to negotiating good deals from suppliers. “We have got a good team together and we are starting to deliver improvements to the bottom line despite relatively tough trading conditions.”

Operating profit in-creased 25% to £588,772. Excluding exceptional factors, group EBITDA reached £1.4m.

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