Anglian Country Inns has reported strong demand as driving its financial recovery in 2021.
The premium gastropub operator reported sales of £5.4m in the year ended 4 April 2021, down 52% on 2020 but including 32 weeks of closure.
A refinancing deal with Cynergy Bank helped secure the future of the business.
Since reopening in April 2021, strong consumer demand , alongside VAT concessions, have helped recover the financial strength of the group.
Anglian benefited from new outside spaces in the White Horse in Brancaster Straithe and The Fox at William.
The company posted an operating loss of £600,000, after charging a further £200,000 write down on the value of the Water Lane site.
Managing director James Nye said: “Although we have managed the challenges of Covid-19 well, looking forward is still uncertain as it is neither clear what a ‘normal’ level of business post-pandemic will be or what impact Brexit will have on our sector.
“We have assembled a strong management team and continue to prudently invest in organic growth opportunities at key sites, whilst our refinancing with Cynergy has given us access to funding for acquisitive growth, leaving the company well placed to identify and exploit growth opportunities.”
