London based pub retailer Capital Pub Company is ‘poised to take the next step’ in its development after making a strong start to the year.
The company, which has 28 pubs, wants an estate of 45 to 50 pubs within the next three years, and having revealed profit and revenue growth today is confident it will achieve its self-imposed target.
Chief executive Clive Watson said: “The board believes the group is well positioned to take advantage of a London pub market which continues to be a healthy trading environment.
“The group continues to outperform its competitors and believes there is further scope to expand its operations.”
Profit and revenue up
Capital said adjusted pre-tax profit in the year to 27 March had improved by 32 per cent to £2.7m (2009: £2.1m). Revenue increased 11 per cent to £22m (2009: £19.8m).
Capital said trading since the start of its new financial year had been ‘very strong’ with the World Cup providing a further boost to sales.
The company has already revealed plans to seek permission from shareholders to raise an acquisition fund to make the most of any opportunities that present themselves.
Martyn Leek is news editor of BigHospitality's sister title M&C Report.