23 Jan 2015 16:02
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Punch Taverns PLC Share News (PUB)
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Punch Taverns PLC Information
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Don't have an account? Click here to register.Punch Taverns says full year trading in line
Wed, 31st Aug 2016 09:35
(ShareCast News) - Pub operator Punch Taverns reported a rise in average profit per pub for the 52 weeks to 20 August, with like-for-like net income growth in the core estate.In a trading statement for the full year, the company said profit per pub was up around 4%, while core estate LFL net income grew 1%.Punch said it has completed its strategic programme of pub sales, including £83m from property and land sales, £53m from the disposal of its non-core pubs and £99m from the disposal of its 50% holding in Matthew Clark.Chief executive Duncan Garrood said: "The business has ended the year with a solid set of results, in line with our expectations, and which reflects the completion of our strategic disposal programme."The roll-out of our retail division is progressing well and we now plan to accelerate the roll-out to around 150 pubs per year. I look forward to updating the market fully when we present our full set of results on 8 November."Net debt reduced by approximately £225m in the period, which is a 16% reduction in the year.Numis, which rates the stock at 'buy', said: "Overall, this is a solid update from Punch, which continues to show robust performance in its core estate and execute well on retail conversions."At 1000 BST, Punch shares were up 1.4% to 96.55p.
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20 Nov 2014 17:19
Thursday tips round-up: Enterprise Inns, Punch Taverns, ICAP
Change is good, but not quite what UK MPs have in mind. Their vote in favour of ending the so-called 'beer-tie' is a great idea. In effect, it will allow large pub operators to purchase their beer from wherever they like, instead of being forced to buy it from the likes of Enterprise Inns or Punch T
Read more19 Nov 2014 14:42
UK pub firms hit by move to curb power over tenants
* Shares in pub owners fall after parliament vote * Move to give tenants more freedom on beer buying By Neil Maidment and William James LONDON, Nov 19 (Reuters) - British pub groups suffered on Wednesday after lawmakers backed a move to hand publicans more control over where the
Read more19 Nov 2014 12:30
Broker tips: Pub companies, IMI, National Grid
Analysts at Barclays have said a de-rating of UK pub stocks is "very likely" after MPs voted to scrap the 'beer tie', meaning that tenants are now allowed an independent rent review and will be able to buy beer on the open market. "If this passes through the House of Lords and becomes law, this coul
Read more19 Nov 2014 10:56
Beer tie vote creates 'significant uncertainty' for pubcos, says Barclays
Analysts at Barclays have said a de-rating of UK pub stocks is "very likely" after MPs voted to scrap the 'beer tie', meaning that tenants are now allowed an independent rent review and will be able to buy beer on the open market. The government was defeated in a Commons vote on Tuesday with MPs vot
Read more19 Nov 2014 09:54
BUZZ-UK pub operators: slump after vote for flexible "beer-tie" deals
** Listed British pub operators saw as much as 330 mln pounds ($516.22 mln) wiped off their market value after lawmakers unexpectedly voted to give people who lease pubs from big companies more freedom about where they buy their beer. ** Enterprise Inns falls as much as 17 pct, the worst of
Read more19 Nov 2014 07:13
Pub firms say beer tie vote may spark closures and job losses
It has been hailed as a historic vote that could secure the future of the British pub, but Parliament's decision to scrap the restrictive 'beer tie', which links pub landlords' rent and supplies to their parent pub companies, might have "serious unintended consequences" on the industry, according to
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