Barons Pub Company sees turnover up by up by more than 12%, from £11.5m to £12.9m for the 12 months to 30 September 2018.
Profit about tax amounted to £350k, up from £325k in 2017. The company, led by Clive Price said it had traded well during last year, with good weather over the summer resulting in record sales, which made up for the disappointment trading due to the Beast from the East earlier in the year.
During the period Barons completed its refurbishment program of all seven pubs in the group at the time. Since the year-end, the business acquired the freehold interest in The Inn at West End – its first site with rooms; and the freehold for the Jovial Sailor in Ripley, Surrey. It has also acquired a short leasehold for Heather FARM Café – previously Water’s Edge Café, in Horsell Common.
According to the accounts filed at Companies House, Price said as a result of spending on acquisitions, refurbs and costs related to openings, Barons has a short term lack of cash which is being managed closely, and a period of consolidation is required to allow the three new sites to bed in and cash reserves to recover.