CI Traders announced that trading for the year to 31 January at its managed pubs in Jersey had been difficult, although its tenanted sites had been operating ahead of expectations. Like-for-like sales at the group’s 29 managed pubs in Jersey were down by 4.2% and profit was described as "substantially down". The fall was attributed to increased competition, a move away from traditional pubs to waterside venues, a downturn in the financial services sector and a decline in tourism. In Guernsey, the group’s 19 managed pubs saw like-for-like sales rise by 5.8% on the year, with operating profit ahead of last year. The 16 tenanted pubs reported like-for-likes up by 5%. Like-for-like sales at the group’s 15 restaurants were up 2.8% for the year as the result of a 5% increase in the first half of the year but a flat second half.