CPUB1 Feb 2011 07:02
Trading Update
The Capital Pub Company PLC is pleased to announce that trading has continued to be strong and in the first 44 weeks (ended 29 January 2011) of the current financial year, revenues were up 23% compared with the equivalent prior year period.
The sales growth has been driven by organic growth in the existing estate, pubs that have benefited from refurbishments and the four new pub openings during the current financial year.
Despite the adverse weather conditions during December, the bulk of the estate traded very well during this period and a number of outlets achieved record sales.
The good trading pattern has continued throughout January and as a result of the Company's pubs being focused in London, the Directors remain confident about trading in the foreseeable future.
The Company hopes to open its new site, The Goldsmiths Tavern in New Cross, London SE14 (the acquisition of which is due to complete on 7 February 2011) before Easter. This will bring the number of pubs being operated up to 32 and the Company has identified further sites for acquisition.