Spirit Pub Company cheered by strong Q4

BURTON-based Spirit Pub Company has enjoyed a major boost during its final quarter with sales up across all segments.

The company, formed after its demerger from Punch Taverns, saw a 4.1% rise in like for like net sales for the final three months, with like for like food sales rising 4.7% and drinks by 2.8%.

The fine summer weather is thought to have to been a major factor behind the increase in trade. It has forecast full year earnings will be in line with expectations.

Highlights for the period saw its managed pubs operation outperform the market, while it also made progress in its leased pubs.

Mike Tye, Spirit chief executive, said: “We have delivered a strong finish to the financial year in both estates with our performance reflecting a combination of improved weather over the summer and further execution of our strategy. We expect full year earnings to be in line with market expectations and remain well positioned for further growth.

“We continue to innovate to create compelling brands and pubs as well as investing in the talent and leadership of our people to deliver hospitality excellence for our guests.”