Manchester-based brewer and pub operator, Joseph Holt, saw turnover increase 14% in the year to 31 December.

The group also reported a 19% increase in pre-tax profit to £3m.

The company last month opened the first site under its Touchwood joint venture with Cloverleaf founders John Winder and Gary Douglas – the Bowling Green in Charnock Richard, Chorley. Winder and Douglas have already opened four venues with the Manchester-based brewer and pub operator under the Foresight Restaurants banner but the £1m Bowling Green project was the first of a pipeline of openings planned for Touchwood.

The group is also in the process of refurbishing its Morning Star site in Swinton.

In a statement with the financial results, the directors said: “The brewing industry continues to experience tough trading conditions. The company has made significant efforts in developing its managed estate, tenanted opportunities and free-trade business, with operating profits up £0.56m to £2.99m having seen the benefits of the strategic initiatives the company has pursued over the past two years. The business remains under pressure from cost increases and the general unease in the economy and 2016 will prove no less challenging.”