Pub People Company, the Midlands-based pub operator, is looking to dispose of a further three sites, managing director Kevin Sammons has told M&C Report.
The company saw pre-tax profit fall from £8,000 to £6,000 in the year to 31 March, a year in which it focused on disposing under-performing sites or negotiating new lease terms. Turnover fell 0.9% to £11.5m.
Pub People operates 37 tied tenancies and leaseholds, five freeholds and eight other sites predominately held under an Enterprise Investment Scheme with Downing.
Sammons said the company is coming to the end of its three-year plan to exit sites that aren’t “future proof” and invest in the others, leaving an estate of “fewer pubs more focused for the future”.
There are no plans for more acquisitions at present. “The next two years are really set. We know exactly what to do,” Sammons said.
He said specialising in cask ale, adding quality entertainment and introducing food of “mid level and above” are helping to improve performance.
Regarding current trading, he said: “Good pubs, well invested pubs, are doing really well. Our estate now is really bucking the trend.”
