Punch on profit target but predicts tough Q3
28th June 2012
MIDLANDS pubco Punch Taverns has said it remains on course to meet full year profit expectations although it said the third quarter was likely to be difficult due to tough comparisons.In an interim management statement for the 12 weeks to May 26, the Burton-upon-Trent business said the third quarter had been impacted by the weather and the timing of bank holidays.In its core estate like-for-like net income was down 6.4%; down 3.4% overall for the 40 weeks to May 26.Disposal proceeds of £95m were ahead of book value, while th......for the full story register now for free or login below...
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