Spirit cheered as pubs show business levels increasing

STAFFORDSHIRE pubco Spirit Pub Company has seen business levels improve across both its managed and leased pubs during 12 weeks to May 24.

The performance in the year-to date is also up on last year, which the company said was testament to the investment it had made in its estate.

In an interim management statement cover the 12 weeks to May 24, the company said its Managed pubs had continued to trade strongly ahead of the market maintaining the good momentum in both food and drink sales.

Like-for-like net sales across its managed portfolio were up 6%, with food sales up 4.8% and drink sales up 7.1%. For the 40 weeks of May 24, net sales were up 5.2%, food sales 4.8% and drink sales 5.2%.

The quarter saw the continued roll out of its Flaming Grill brand through acquisition and the conversion of pubs from the existing estate.

The Leased business saw a third consecutive quarter of net income growth.
For the 12-week period net turnover was up 2.5% and net income 5.3%, for the 40-week period, turnover grew 3% and income 3.6%.

Mike Tye, Spirit chief executive, said: “We remain pleased with the strong performance over the quarter, with both divisions continuing to demonstrate the benefits of investment in our estate, infrastructure and people.  In our Managed division, we have now commenced our planned expansion of the estate and we continue to see the benefits of the turnaround in the Leased division.”