TWO Burton pub giants have outlined their plans for the future after revealing end-of-year results.
Following a highly publicised demerger in August, Centrum 100-based Punch and Spirit have released details of their performances.
Outgoing Spirit chief executive Ian Dyson said: “Looking ahead, we expect the UK consumer environment to be more challenging this year and are continuing to see pressure on costs.
“However, the actions we have taken to reposition the business, and the plans we have in place, leave us well positioned to move forward.
“We have made a good start to the new financial year and, while we expect the consumer environment to be more challenging, we are well positioned .
“Spirit has a high-quality estate, a stable of exciting brands and a strong board and management team, all of which gives us confidence that we will, over time, deliver against our aim to be the best managed pub company in the UK.
“We are very pleased with the performance of the business over the last year with strong progress in all key financial metrics.
“At the same time substantial progress has been made in repositioning the business for the future, through a combination of investment in our brands, our estate and our people.”
The report revealed that Mike Tye will take over as head of managed pubs firm Spirit from Mr Dyson in December.
Punch, which comprises leased and tenanted pubs from the now-defunct Punch Taverns, revealed that it had seen income growth per pub increase for the first time in three years, but said there was still room for improvement.
Chief executive Roger Whiteside said: “Our aim now is to become the UK’s highest quality, most trusted and best value leased pub company.
“We are focused on creating value for our shareholders through successful long-term partnerships with our licensees in our core estate of 3,000 of the highest quality, best invested leased pubs in the country.”
