Revenue and earnings growth

Our financial results for the first half of this year were released this morning. They highlight our continued growth across all areas of the business.

Overall, we’ve achieved revenue and earnings growth and an improved operating cash flow, as well as maintaining our dividend. The results also showed that:

  • Like-for-like operating margins are in line with last year.
  • Our managed and franchised estate achieved like-for-like sales of +2.2%.
  • Beer Company continues to grow – own-brewed and licensed volumes are up by 4% and operating profit is 8% up.
  • We’ve made good progress on our debt reduction plan.
  • We had a strong Easter and are confident of meeting our earnings expectations for the full year.

CEO Ralph said: “I’m pleased to report continued growth across all segments of the business. Our Taverns wet-led community pubs have built on the strong trading performance last year and it is particularly encouraging to see our food-led pubs once again achieving increasing momentum in profitable like-for-like sales growth. Our leading Brewing business goes from strength to strength, winning new distribution contracts and continuing to grow market share.

“We remain focussed on our strategic objectives and good progress has been made with our stated aim to improve cash generation and reduce the Group’s leverage. Whilst the backdrop of ongoing uncertainty around Brexit continues to be challenging, opportunities for growth remain and we are confident of delivering another year of profitable growth for our shareholders.”

To view the full results statement and presentation on our website, click here.

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