Pub group Punch reports 11.8% revenue rise after buying 74 sites

Summarised from Evening Standard's report · Updated 23 Oct, 11:29 · Archive

Pub group Punch Pubs has increased revenues by 11.8% to £377.8 million after acquiring 74 additional venues.

Punch Pubs has reported a jump in revenues following its accelerated acquisition strategy. The Burton-upon-Trent-based hospitality firm increased revenues by 11.8% to £377.8 million for the year to August 9, compared with the previous year. The company bought 74 pubs over the year, up from 35 previously, expanding its estate to 1,327 venues. Acquisitions included 30 pubs from Hertfordshire group McMullen's alongside a number of smaller deals.

Boss Andy Spencer said the group's acquisition strategy is 'gathering pace' and has helped strengthen the company's position in the market. The company has a 'robust pipeline' of further pub acquisitions and has completed on, exchanged or agreed to buy 12 pubs for a total of £12.8 million since the end of the previous financial year. Trading was 'strong' in the eight weeks to October 4, with underlying earnings up 13% year on year. Despite ongoing economic pressures across the sector, Spencer said the group enters the new financial year with 'real confidence'.

Read the report

• Pub group Punch reveals jump in sales after snapping up 74 sitesBoss Andy Spencer said the company has started the new financial year with ‘real confidence’ despite economic pressures on the pub sector.Evening Standard · 23 Oct, 09:16

In this story: Punch Pubs · Andy Spencer · Burton-upon-Trent · McMullen's · Hertfordshire

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