Laine Pub Company boosted its profits in 2022 with sales recovering well during the period.
The Fortress-backed group posted profit after tax of £2.9m (2021: £1.1m) for the full year to 14 August 2022.
EBITDA was £6.6m (2021: £211k). Turnover was £51.1m (2021: £28.2m)
In accounts filed to Companies House, the company said: “Sales have recovered well since the reopening of pubs in 2021 and following the national lockdowns implemented in response to the pandemic.
“Trade in the year was however negatively impacted by rising Covid-19 cases during December 2021 and the introduction of the Government’s Plan B restrictions which had a negative impact on the group’s Christmas trading period.
“Notwithstanding the challenging operating environment, we believe we delivered a solid financial performance and the underlying liquidity position of the group remains healthy.”
Led by Gavin George, Laine was acquired by Fortress Investment Group has part of the same acquisition of Punch Pubs & Co.
With pubs in Brighton, London, and Birmingham, Laine operates three breweries and expects volumes to exceed 24,000hl in 2023.
It recently acquired the Redchurch Brewery in Harlow, enabling Laine to add an East London-inspired craft beer portfolio to add to its core range.
