Sales are said to have improved in the final quarter at the Punch's managed pubs by 2.6pc in the last 12 weeks. The same is said to have fallen by 2pc over the year. Last year, the owner of these pubs is said to have sold pubs worth £300m, and lessened its debt to £3.1bn from £684m.
The earnings however might come out to be deteriorating by around 11pc as a result of lower margins on beer and Punch spending almost £2m a month to sustain the struggling tenants.
These leased pubs are sure to plan out all the things for the coming months keeping in mind, all the outcomes of spending cuts and tax rises and disposable income.
Phil Dutton, Finance Director says that he intends to sell some more pubs, like around 1,000 more, just so he is able to raise another £200m in the next two years.
This improvement in the Company’s performance is reportedly because of the very favorable weather in June and July followed with the positive impact of the World Cup. The Company said that there was a decrease in the number of pub failures in the estate.
"Against this backdrop, we believe it is sensible to plan cautiously and we have prepared our financial plans accordingly”, he added.
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