Trust Inns, the 600-strong pub business owned by leisure magnate Trevor Hemmings, swung back into profit in the year to 31 March 2011, after reporting a major write down on the value of its estate the previous year. The Chorley-based group, which is led by Lynne D’Arcy, reported a pre-tax profit of £9.142m against a loss of £6.02m the previous year. Retained profit for the year was £6.789m compared to a loss of £7.907m in 2010. During its previous financial year, the group reduced the carrying value of its estate by £35.6m, around 13%, to £255.8m. A total of £14.9m of the write down appeared in that year’s in the profit and loss account. The company said it had reassessed the carrying value of its estate for the year to 31 March 2011 and determined that the current valuation of £249.78m “is appropriate”. Company turnover was £36.05m in the year to 31 March 2011, down from £38.09 the year before. Operating profit was £14.3m compared to £14.77m the year before. There was no final dividend recommended. A report at Companies House stated: “Underlying trading performance during the year was satisfactory, but market conditions have continued to be challenging.”