Profits jump 13 per cent at Ann Street

Ann Street, the 176-strong publicly-quoted pub operator, has seen profits jump 13.2 per cent against a backdrop of disease and economic uncertainty.

In a difficult year for the industry, the Jersey-based business saw profits hit £9.7m on sales of £116m.

Last year it bought the Channel Island operations of Bass, which included nine pubs and grew its UK presence.

Chief executive Paul Smith said he was delighted with the figures. "Despite some tough conditions we have continued to grow the business in a measured way," he said. "We will continue to look to expand the business in the UK and take advantage of any opportunities that may arise."

Ann Street operates 66 managed houses and 19 tenancies in the Channel Islands, along with three leading hotels and also a brewing and wholesaling business.

In the UK it owns 59 tenanted pubs under Conquest Inns and 29 managed houses under Lionheart, including the 13-strong Blubeckers restaurant chain.

It also has a private-label soft drinks bottling operation in France that accounts for 15 per cent of the bottom line. Supplying a number of supermarkets, it produces 110 million bottles a year.

The company is listed on the London Stock Exchange with a market value of more than £120m.