Barkby Pubs trade strongly on reopening
It revealed that trade for July 2021 had been “extremely strong” with like-for-like sales up 97% on the same period last year and up 10% on the equivalent period in 2019. It said it actively looking for further opportunities to add to its growing pub portfolio and had recently acquired a six-year lease of the Ebrington Arms.
The second half of May and June were overall a very positive trading period with the business returning to both positive cash generation and profitability for the final quarter of the financial year, it said.
Strong bookings
“Forward order bookings are strong, and we are optimistic of a sustained period of good trade and profitability over the summer months as we benefit from the pent up demand and UK staycation boom,” it said.
Barkby chairman Charles Dickson said: “I am delighted to say that trading in Barkby Pubs has been particularly strong since the easing of the government restrictions and the business has returned to positive cash generation. We have expanded our portfolio of high-quality pubs with accommodation to now include the Ebrington Arms in Ebrington, Gloucestershire. We continue to pursue further opportunities to expand the portfolio.
Strong momentum
He added: "Our cash generative Commercial Property Development business has helped Barkby to weather the storm of Covid-19. The division is seeing strong momentum, with six agreements to lease exchanged or in legals. We are also currently in legal negotiations to acquire two further sites."
The group also operates a commercial property portfolio , Barkby Hospitality (comprising Barkby Pubs and Workshop Coffee) and Centurian Automotive Ltd
