Pubs 'n' Bars reported a ‘satisfactory’ start to the year, with pre-tax profit for the six months to 30 June down over 8% to £486,246 from £530,822. Turnover for the period was £7,001,654, up from £6,999,862. The company said it was pleased with the progress, given that sales in the same period last year were boosted by Euro 2004. Seamus Murphy, the company’s chairman, said: "Our trading is traditionally more heavily weighted towards the second half of the year. "Given prevailing market conditions, we have been encouraged that our like-for-like sales for the year to date currently show a small increase and consider this to support the company's strategy of pursuing community rather than high street operations." During the period the group acquired three freehold pubs from Shannon Inns and also the freeholds of two pubs which the company had previously leased. The acquisitions took the company up to 64 sites, with 40 managed and 24 tenanted. The group manages 31 pubs for Community Taverns and others and said that it was actively seeking additional management opportunities.