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Bar magazine’s round-up of the week’s news
Punch Taverns has reported that trading has been “challenging” because of “recessionary economic conditions” and “significantly reduced consumer confidence”, with predictions that “demand levels are unlikely to improve in the near term”. For the year to August 22, it said cumulative like-for-like EBITDA (earnings) for its leased and tenanted bars and pubs were down 11 per cent while the managed estate’s like-for-likes were down 1.4 per cent.
The Home Office has commissioned a new unbreakable plastic design in the hope that the licensed trade will switch to safer polycarbonate glasses as an alternative to the traditional beer glass, according to The Times. However, the British Beer & Pub Association said it would be unfair to force all pubs to stop using glass.
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Net profits at Heineken were up year on year by 20 per cent in the first half of the year to the end of June. The group reports that UK beer volumes were down six per cent, although in the on-trade the drop was five per cent.
Diageo GB has won share in beer and wine in the on-trade and delivered net sales growth of two per cent for the year to the end of June. Globally, it increased profits by seven per cent, but it announced it had cut its growth targets for the coming year in light of “challenging” market conditions. Underlying sales remained flat at £9.3billion for the year to the end of June, but operating profit of £1.62billion represented four per cent organic growth, the company said.
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The Federation of Small Businesses has called on the governme
nt to abolish the beer tie after reporting that one in eight tied pubs is struggling to survive and paying up to 50 per cent more for beer compared to untied outlets.
Adnams, the Suffolk-based brewer and pub operator, reported “much improved” profits for the first half of the year. Turnover for the six months to the end of June increased from £21.9million to £23.4million while pre-tax profits were £882,000 compared with a loss of £148,000 for the same period last year.
The average pint of beer in a university bar now costs £2.19, according to a report by online student guide Push.co.uk. It found that the cheapest beer was on sale at the University of Hull, where a pint is priced at £1.23. Yet another reason why it is unfair to dub Hull the “crappest” place in Britain.
Mark Ludmon
Editor
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