Somerset-based brewer and pub operator Butcombe saw a slight rise in pre-tax profit in the year to 28 February 2011 after turnover increased by more than £1m. Pre-tax profit for the company was £1,306,384 (2010: £1,300,892). Turnover increased by £1,135,542 to £14,138,503 - the company bought its 17th pub, the Cottage in Bristol’s Cottage Wharf, in November 2010. Operating profit declined 2.2% to £1,574,860. Managing director Guy Newell attributed the rise in pre-tax profits and turnover to the addition of new product lines and not being tempted to discount. “Obviously there’s pressure on margins. If we get everything else right we don’t necessarily have to be the cheapest,” he told M&C Report. In April 2011 the company bought three pubs from local operator Triple Rock for an undisclosed sum. These are expected to add around £3m in sales each year, Newell said. He described trading in H1 2011 as “the best half year we’ve had”. On the prospect of adding more sites, Newell said: “If a gem or gems come up we would be interested but we’ve got quite a lot on. I would be surprised if we buy more this financial year.” Meanwhile, directors’ salaries in the year to 28 February 2011 fell from £201,348 to £166,589. Staff costs increased by £201,198 to £3,152,324, despite having fewer employees - 285 against 303 in the previous year.