Sales up at Punch Taverns
Burton-upon-Trent pubco Punch Taverns has managed to keep its head above water with the announcement of a 2.2 per cent growth in like for like sales this morning. The pub giant said that it wanted to “build on this momentum” as it enters the New Year.
Punch said that for the 16 weeks to 11 December, drinks sales had grown by 1.7 per cent, whilst food sales increased by 2.6 per cent.
The company said that it was now “on track” to meet full year expectations.
Ian Dyson, chief executive officer of Punch Taverns, said: "The actions taken to strengthen both the leased and managed businesses have resulted in an improved trading performance in the first 16 weeks of the financial year. We are now looking to build on this momentum by focusing on further operational improvement across the business.
“Meanwhile, my review of our strategy, operating performance and capital structure is progressing and I expect to give an update in the first quarter of 2011.”
