City Pub Company has seen revenue in the first 21 weeks of the year grow 43% year-on-year, MCA has learnt.

The group held its annual general meeting last week at which chairman Clive Watson set out the plans for the group’s IPO later this year.

He told MCA that the strategy received unanimous support from shareholders and was further emboldened by the fact that 40% of shareholders chose to take the company’s maiden dividend in shares rather than cash.

He said: “We’re in a really good place where we can compete on sites with anyone but we still have that entrepreneurial spirit that keeps us fleet of foot.”

The group will open its second site in Brighton on Monday – the Walrus – in the former Glendola site, Smugglers.

The group also held its first staff party this month – at Dinerama.