Robinson bullish despite profits fall
PROFITS at Frederic Robinson, the Stockport-based brewer and operator of 360 pubs, says it will continue to trim its estate amid a challenging trading environment and hostile tax regime.
The company, now being run by joint managing directors Oliver and William Robinson, members of the sixth generation, said 2011 sales were flat at £54m.
Operating profits before the disposal of six pubs in the year for £1.6m was £116,000 compared with £387,000 in 2010. Pre-tax profits came in at £1.8m, compared with £2.4m.
Chairman Peter Robinson, who ceded day-to-day management in March to his son and nephew said: “Despite the increasing evidence that the pub can be the home of responsible drinking and a cohesive force for good in the local community, we remain disappointed that the government continues to progressively raise bee duties by a total of 35% over the last four years, thus placing ever-more severe economic pressures on our estate.
“We expect that trading conditions will continue to be difficult with continuing reductions in the public’s disposable income.”
Referring to sales of under-performing pubs, he added: “We expect there to be further sales in 2012, realising funds which we can reinvest in our estate.”
As well as the management change 2012 has been a significant year for the business in other ways. In February it opened a new £5m brewhouse in Stockport, replacing a 83-year old facility which had become very costly to run and poor environmentally.
Looking ahead Mr Robinson senior said: “The new brewery and our brands launch, a greater economic focus on the tied estate, growth in volume in many areas of trade and our new management gives optimism for the future and long term prosperity of the company.”
