Full-year profit and sales at Heavitree Brewery, the Devon-based brewer and pub operator, were flat during a 12 months that the company described as “a difficult period” for pubs. Pre-tax profit increased by 0.6% to £1.232m on turnover down 0.5% to £7.35m in the year to 31 October 2011. Group operating profit fell 1.3% to £1.41m, with basic earnings per share down from 16.7p to 16.4p. “Another year of good housekeeping has returned a satisfactory set of results in what continues to be a difficult period for public houses,” said chairman Nicholas Tucker. “The headline figures may appear to be somewhat flat against the previous year but, given the uncertainty of the European and national economic situations, I consider this to be a solid performance.” Heavitree renewed its banking facilities with Barclays just after the year-end. “This certainty of finance, together with the continued support that we have always offered to our landlords and landladies, leaves us well positioned should there be a change in the economic climate,” said Tucker. Five sites underwent “significant expenditure” in the year, and there are development plans for the “small number” of its closed pubs.