Seven-strong gastropub operator, Innventure has reported a year on year sales uplift of 14.5% for the year ended 29 June 2019.

The business, which is led by former Mitchells & Butlers managing director Chris Gerard, increased sales to £7.19m, with pre tax profits at £284,827, up from £167,124 the previous year.

During the period the group acquired its seventh site, The Old Canon in Bury St Edmuns, which includes beer manufacturing and production facilities. Whilst the site provides the company with an artisan beer supply, the report states it brings “new challenges and a steep learning curve.”

Since the year end its Cambridge site, d’Arry’s, has been converted to new restaurant concept, Stolen, and is to be run by Gerard’s son, Charlie.

Whilst Gerard said that “further investment into new sites remains opportunistic for the moment,” he admitted that “the outlook remains cautions and gently frustrated by government indecision.”