InnBrighton hails positive year on back of new acquisitions

By John Harrington , 21-Nov-2012

Related topics: Drinks & Brands News

InnBrighton, the south-east-based multiple operator, has reported a 17.7% surge in EBITDA (earnings before interest, taxes, depreciation and amortisation) to £3m in the year to the end of June on the back of new acquisitions.

Turnover increased by 11% to £23m. Chairman Gary Pettet said: “2011/2012 has been a very positive year for the company.

“Two new acquisitions in London during the period have added to an excellent performance, but what is most pleasing is that like-for-like EBITDA has improved by 13.8%, showing that, despite a difficult trading environment, the underlying business is in solid growth.”

Chief executive Gavin George said: “These are exciting times for InnBrighton as we expand our London estate and invest in our Brighton pubs. We are pleased with the company’s progress in 2011/2012 and look forward to continued organic and acquisitional growth in 2012/2013.”

During the current financial year, InnBrighton has added a further two London sites and converted a former Brighton nightclub into a 600-capacity pub and brewery, the North Laine.

In January, George told M&C Report the c.50-strong firm aimed to build an estate of 25 pubs in London.

The firm has already secured the Clarendon in Newington Green, north London, Crystal Palace Tavern in East Dulwich and the Candlemaker on Battersea High Street, both in south London, and the Britannia in Victoria Park, east London.

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