Good weather cheers Thwaites

FIRST quarter trading at the regional brewer Daniel Twaites has been helped by the good weather earlier in the summer.

In a brief AGM statement managing director Peter Morris said the 200-year-old Blackburn business had also benefited from cost savings made over the past few years.

Thwaites has a 400-strong pub estate and operates eight hotels under its Shire Hotels brand. It said the hotels business was, “showing some signs of recovery” and the free and national trade businesses are growing.

Overall, trading since the end of its financial year in March is ahead of the same period last year. “However we remain cautious for the outlook for consumer spending for the remainder of the year,” added Mr Morris.

In the year to March 31 sales at the fell 14.7% to £135.2m while pre-tax profit, before exceptional items of £4.7m, halved to £5.7m.