Operating profit increased 16.3% to £337,720. The company said: “In another challenging year, turnover and operating profit both improved relative to the prior year.
“Gross margin fell back slightly reflecting a change in sales mix and the movement within tenanted pubs towards free trade pricing with an increased rent.”
It added: “The strategy of investing in our existing estate and our people will continue, with property opportunities being explored as appropriate as
Employment costs as a percentage of turnover fell from 15.3% to 15%, despite the average number of employees rising from 78 to 88 in the year. Staff costs grew from £2.2m to £2.3m.