InnBrighton, the Brighton & Hove-based licensed multiple retailer, has posted a 19.1% fall in ebitda for the year to 30 June 2011, with rising costs, poor weather and “customer malaise” hitting sales. The operator of 43 pubs, bars and clubs reported turnover down £130,870 to £20.752m. Ebitda (post exceptional costs) was £2.584m (2010: £3.194m). However, pre-tax losses narrowed to £1.098m (2010: losses of £2.848m), with administrative expenses down £1.772m to £14.207m after last year’s exceptional charge of £2.3m relating impairments of fixed assets (2011: £201,456). Other exceptional items in the year to 30 June 2011 include a £279,813 guaranteed payment for leases at two sites that were closed for all or some of the period: 27 Gloucester Place and the Free Butt in Phoenix Place. The company, which is led by chief executive Gavin George, said: “Sales generation was impacted during the year by VAT rises and consumer malaise resulting from negative signs in the economy. “Additionally, poor weather in the second quarter of H1 had significant impact on the group’s seafront sites, which were impeded during a traditionally busy time. “Duty rises and other statutory cost increases had an impact on the cost of running the business. However, the directors believe that the geographical concentration of their business, the quality of the retail sites and the proven ability of management to meet the needs of a specialist consumer base leave the group well positioned to trade through the most challenging of conditions.” Staff numbers for the year were trimmed by 17 to 65, with staff costs down 2.4% to £1.367m. The highest paid director’s salary increased by £6,636 to £147,318.

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