An update on Punch Taverns reported today in the brewing news indicates just how bad the downturn in pub trade has become. Profits in tenanted pubs have slumped 12 per cent in the last twenty weeks, way up on predicted figures of between five and eight per cent.
With the annual Christmas boost in beer and other alcohol sales just past, fears are now high for the pub trade . As many as seven British pubs are thought to be going under every day.
Punch Taverns indicate a fall in profit, with operating margins being slammed by food and energy cost increases. The focus for the chain is to build free cash, extremely challenging in the current environment. Investment analysts say concerns over Punch are being overplayed.
Punch Taverns problems reflect falling pub beer sales
Wed, 14 Jan 2009
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