Phil Thorley, operations director of Kent-based pub, restaurant and hotel group Thorley Taverns, has told M&C Report the company currently has three sites on the market and has its “ear close to the ground” for potential acquisitions.
He said like-for-like sales for the 34-strong company in the first half of its current year (from July) have been a “struggle” because of difficult comparatives with the period last year, when an influx of construction workers caused trade to lift.
“However, our new venue the Charles Dickens [in Broadstairs] is going well and generally our food continues to grow and we are continuing to push ahead with that. We’ve got a couple of sites on the market so we would like to be moving those on.”
Thorley Taverns reported a pre-tax profit of £108,919 in the year to 30 June against a pre-tax loss of £522,901 in the previous year. Thorley attributed the return to profit to a property impairment charge in the previous year.
He added: “We have managed to move margins forward slightly. We have been working very hard with suppliers and with food margins, which we’ve managed to creep forward - that’s by working smarter and working a bit more with suppliers.”
The company last made acquisitions two years ago when it bought three Enterprise Inns freeholds. Thorley said: “We’re always looking for stuff around, we haven’t bought anything for a while.
“Our ear is close to ground and we’re looking but we haven’t found the right opportunity for us yet.”
Thorley said he expected to undertake a “couple of schemes” at its venues in the next calendar year.
He added: “All in all, we are in a good place.”
