Spirit sales offset rising costs

Spirit Pub Company reported full-year results in line with expectations yesterday and said it was working to strengthen its managed-pub estate in the face of rising costs and muted consumer demand. Spirit, which manages more than 800 pubs in Britain, saw sales at pubs open more than a year rise 4.8 per cent in the year to 18 August and pre-tax profit up 16 per cent to £51.1m. It proposed a full-year dividend of 1.95p per share.