Strong food growth drives sales at Spirit Pub Company

By M&C Report

- Last updated on GMT

Related tags: Pub company, Finance, Investment, Alcoholic beverage, Spirit pub company

Spirit Pub Company has reported a slowdown in growth for the 12 weeks to 26 May but said it remained on track to deliver its full year expectations.

The group reported a 3.7% rise in like-for-like sales across its managed estate during the 12 weeks, against a 5% increase in the 40 weeks to 26 May. This was driven by a 6.8% rise in food sales (+7.1% 40 weeks) and a 1.1% increase in drink sales (+3.9% 40 weeks).
Spirit said the period was up against tough prior year comparatives with its drink sales growth “especially impacted” by the warm weather and additional bank holiday in April 2011.
The company said that it remained pleased by the continuation of its strong food sales growth, which it said reflected the “ongoing evolution of our offer across our managed brands”.
It invested in a further 21 managed pubs in the quarter taking the total for the financial year to date to 177 and the total proportion of its managed estate invested and branded to 79%.
The group said that there would be minimal investment activity in the final quarter as it is now focused on “maximising the profitability of our pubs during what we expect will be a strong trading period”.
Having completed the investment in its Taylor Walker and Chef & Brewer brands, the company said it was now close to completing the refurbishment of Fayre & Square and Flaming Grill and intend to complete the investment in its John Barras and Original Pub Company brands during next financial year.

Related topics: Greene King

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