Shares in Britain’s biggest pubs group Punch Taverns jumped yesterday after
it posted an increase in second-quarter sales and says it remains on track to
meet its full-year expectations. The owner of Chef & Brewer and Fayre & Square said its success has been triggered by its new look pubs. Like-for-like sales at its managed pub estate rose 8.6 per cent in the 12 weeks to 5 March.
This compared with a 2.2 per cent rise in the previous quarter and came amid strong eating out demand after food sales rose 11.7 per cent on a like-for-like basis. The improvement followed a refurbishment at 15 per cent of its managed pubs.