Pub operator Punch Taverns has achieved a profit before tax of £50m for the 28 weeks to 1 March and is on track to meet its full year profit expectations.
The pub chain delivered an average profit per pub of four per cent across its entire estate of 3,956 establishments. Punch's like-for-like income rose 1.4 per cent while new partner enquiries from potential tenants jumped 40 per cent on 2013.
The company said its disposal programme was on track, with 140 pubs and other assets disposed for £51m.
"Our results reflect the significant operational changes we have made over the last 15 months which are now embedded in the business,"said executive chairman Stephen Billingham.
Punch is looking to its increased level of partner operational support to further strengthen performance. However, the company has had some difficulty structuring £2.3bn of debt and reported a net loss £119.7m, significantly higher than the £13m loss at the same time last year.