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Wellington Pub Company posts a loss

By John Harrington , 18-Oct-2010

Related topics: Pub industry statutory code, General News

Wellington Pub Company, the 850-strong pub estate owned by the Reuben Brothers and managed by Criterion Asset Management, has made a loss of £5.7m.

Wellington: loss of £5.7m

Wellington: loss of £5.7m

Wellington Pub Company, the 850-strong pub estate owned by the Reuben Brothers and managed by Criterion Asset Management, made a loss of £5.7m, according to its latest accounts.

 

Turnover slipped from £31.2m to £30.3m in the year ending 31 March 2010. It still paid an interim dividend of £5.5m.

 

The company bought 13 pubs during the period and disposed of 33 others at a loss of £16m.

 

The accounts said: "This fits in with the directors' strategy of under performing properties within the portfolio and to acquire better performing and income-generating pubs."

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