A round-up of industry news from Bar magazine

Fuller’s pubs and bars thrive despite recession London brewer and operator Fuller’s is thriving despite the recession, reporting that pre-tax profits for the half year to September 26 were up 18 per cent to £14.1million. Turnover grew by 10 per cent to £116.9million and underlying profit (EBITDA) rose by nine per cent to £22.7million. The managed pubs, bars and hotels have performed well, reporting a rise in like-for-like sales of 2.8 per cent. However, it has warned that the second half of its financial year was expected to be “significantly tougher” because of pressures such as the return of VAT to 17.5 per cent.

Young’s reports “good performance” Another London brewer and operator, Young’s, reported a “good performance” in its results for the half year to September 26. The group, which reported a decline in annual profits earlier this year, said that revenue was up 1.5 per cent to £67.2million. Its managed pubs increased revenue by 1.7 per cent but like-for-like sales were down 0.7 per cent. New event for drinks and cocktails Bibulous, a new consumer event devoted to “discerning drinking and creative cocktailing”, is taking place this week on Friday 27 and Saturday 28 November in the Great Halls of Vinopolis, near London Bridge. The show is expected to appeal to people in the bar trade, with tasting tables and cocktail stations offering taster-size cocktails. It includes mixologists, distillers and other drinks experts, including Andy Pearson of consultancy Intoxicology who is overseeing the selection of drinks on offer. Features include the Taste of Mexico tequila roadshow, the Bacardi Mojito cocktail lounge, beers from around the world presented by beer specialists Ben McFarland and Tom Sandham, the Chairman's Rum shack serving cocktails created by The Hoxton Pony, and tequila tastings by the team from London’s Green & Red Bar & Cantina. For more details and tickets, click here Peroni and Pilsner Urquell boost SAB Miller Brewing giant SAB Miller has reported that profits rose by six per cent in the year to September 30 on the back of cost cutting and price rises. Underlying volumes fell by one p er cent but its core brand Peroni Nastro Azzurro increased volumes by about 35 per cent and Pilsner Urquell grew volumes by 26 per cent. It said that its UK operation, Miller Brands, was continuing to deliver growth in a marketplace which saw premium lager decline by three per cent over the same period. According to AC Nielsen, Miller Brands grew its value share of UK premium lager to six per cent –  a growth of 16 per cent – and is now looking for a new brand to expand on this success. Lower profits at Enterprise Inns Enterprise Inns has described its results for the year to the end of September as “creditable” in “very difficult circumstances”. Adjusted pre-tax profits were 21 per cent lower at £208million and average income per outlet was down eight per cent. The group has written off about £400million from the value of its estate. New openings increase sales at TRG The Restaurant Group (TRG ), which operates brands such as Garfunkel’s and Frankie & Benny’s, reported a three per cent drop in like-for-like sales for the 46 weeks to November 15. However, group sales were up four per cent, driven by new openings. It has added 17 new restaurants during the period and will have opened up to 20 for the whole of this year. Restructuring at Admiral Taverns Pub operator Admiral Taverns has announced that it has undergone a financial restructuring that sees its founding families exit the business. The deal, handled by administrators from PricewaterhouseCoopers, sees its lender Lloyds Banking Group take on a significant stake in the company. The company said the restructuring “provides a stable foundation for the future” and that landlords, tenants, suppliers and contractors would be unaffected.  It marks the departure of the Rosenberg and Landesberg families, who created Admiral in 2003 by buying pubs from operators such as Pu nch Taverns, Enterprise Inns and Greene King. Gary Landesberg has been replaced as chief executive by Jonathan Paveley, formerly a director of Punch Taverns. London trading strong for Capital pubs The Capital Pub Company has reported strong half-year figures, saying that its market in London continues to trade well despite the recession. It reported revenues up nine per cent, pre-tax profits up 53 per cent to £1.2million and underlying profits (adjusted EBITDA) up by 21 per cent.  Capital said that “trading in London continues to be encouraging”, predicting further good progress in 2010. Tough conditions for Pubs ‘n’ Bars Pubs ‘n’ Bars, the tenanted and managed pub operator, has warned that it is still facing “difficult trading conditions and a lack of supplier credit”.  The group added in a statement last week that its “bankers are currently supporting the business on a day-to-day basis� ��. Market grows for food in pubs The market for food in pubs has continued to grow despite the recession, according to new research by analysts Key Note. Pubs now represent 35.2 per cent of restaurant meals served and there is a “steady movement” upwards in the number of pubs offering food.   Key Note said that restaurant growth could have been as low as four per cent in total over the last five years but they expected a recovery to start next year. Highland Spring expands with acquisition Highland Spring has acquired the bottled water division of Greencore Group for £17.5million. The deal makes Highland Spring the UK's biggest bottled water firm, with 400 employees and five plants. The Irish-based Greencore division makes own-label bottled water for supermarkets and owns the Campsie Spring plant in Lennoxtown and Blaen Twyni in Wales. Greencore Group said it wanted to focus on its core businesses. Men cut risk of heart disease through drinking Drinking alcohol every day cuts the risk of heart disease in men by more than a third, according to a Spanish study involving more than 15,500 men and 26,000 women. It found that men who drink regularly, even in small quantities, are more than 30 per cent less likely to suffer from heart disease. The study, published in journal Heart, discovered that female drinkers did not benefit to the same extent. Read more

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