Festive lift for Amber Taverns

AMBER Taverns, the Lancashire business reviving unloved and under-invested urban pubs, enjoyed a bumper festive period.

The Preston-based company said like-for-like sales in the 12-day Christmas period were up 16% and 4.4% for December.

Net sales in December were £3.6m, up 23% on last year.

Amber, backed by private equity firm LGV Capital, has an estate of 80 pubs mostly in the North West, Midlands and North Wales.

A £2.7m extension to £24m funding deal with Lloyds Bank Wholesale Banking & Markets in October 2012 has enabled the group to add a further 12 pubs over the next two years.

It has just acquired the Black Bull in Doncaster, which will undergo a £300,000 refit, and is preparing to open The Bull in Morecambe, following a £350,000 refit. It is also close to exchanging contracts on a further two properties in Staffordshire and the West Midlands.

Chairman Clive Preston said: “Once again we have shown the viability and popularity of well run wet led pubs. We will add even more of the same to our existing estate over the year ahead as we continue to progress our strategy of building a quality pub portfolio.”