InnBrighton, the south east-based multiple operator, has reported a 17.7% rise in EBITDA to £3m in the year to the end of June on the back of new acquisitions.
Turnover increased 11% to £23m during the period, in which the c50-strong company bought two sites in London.
Chairman Gary Pettet said "2011/2012 has been a very positive year for the company. Two new acquisitions in London during the period have added to an excellent performance, but what is most pleasing is that like-for-like EBITDA has improved by 13.8% showing that, despite a difficult trading environment, the underlying business is in solid growth."
Chief executive Gavin George said: "These are exciting times for InnBrighton as we both expand our London estate and invest in our Brighton pubs to create ever more interesting places for our customers to enjoy their social time.
"The popularity of our Laine’s cask ale and Alchemist coffee brands coupled with improved food offerings across the estate have added to the appeal of our highly individualistic pub offerings and helped achieve the underlying growth that the company is enjoying. Aggregating social media content through our www.drinkinbrighton.co.uk and www.drinkinlondon.co.uk websites has contributed significantly to the effectiveness and focus of our digital marketing activity. Close working relationships with Heineken and Diageo on bespoke brand campaigns has helped create some very unique and appealing customer activity. We are pleased with the company’s progress in 2011/2012 and look forward to continued organic and acquisitional growth in 2012/2013."
During the current financial year, InnBrighton has added a further two London sites and converted a former Brighton nightclub into a 600-capacity pub and brewery, the North Laine. Pettet said: "We are very pleased with the trade at our four pubs in London and are building up an excellent pipeline of future acquisitions here."
In January George told M&C Report that the company aimed to build up an estate of 25 pubs in London. The firm has already secured the Clarendon in Newington Green, the Crystal Palace Tavern in East Dulwich, and the Britannia in Victoria Park, and the Candlemaker on Battersea High Street.
