Amber Taverns hails wet-led community pubs as sales rise

06-Jun-2012 - Last updated on 24-Apr-2024 at 10:10 GMT

Amber Taverns, the North West based pub operator, has reported a rise in like-for-like sales and says the success shows west-led, community pubs can succeed

Amber Taverns, the North West based pub operator which specialises in community pubs, has reported a rise in like-for-like sales across its estate claiming the rise shows wet-led pubs can be good businesses for hospitality operators.

In the twelve months to 29 January the company saw like-for-like sales rise grow by 3 per cent generating pre-tax profits of £3.2m after reporting a £400k loss a year earlier.

Revenues grew significantly in the period jumping 37 per cent to more than £25m; a performance group chairman Clive Preston said showed wet-led pubs were still viable hospitality businesses.

"We have continued to demonstrate that wet-led community pubs can be great businesses, great assets for their local communities and a much needed engine for growth in the wider economy through the work and jobs created by our investment in previously unloved and under-managed pubs. We attribute our success to providing a first class environment, a consistent value for money proposition and well incentivised operators," he said.

Expansion

Preston revealed that every site in its portfolio was generating a profit and said since the end of January the company had continued to post positive like-for-like sales growth and was expecting this to continue with the benefits of the Diamond Jubilee celebrations, a summer of sport and its new acquisitions.

The Blackpool-based business acquired 14 sites during the last year and in November announced it had secured new financing to open another 30 pubs over the next three years.

Founded in 2005, Amber Taverns mainly operates pubs in the North West and North East of the UK and in 2010 was acquired by LGV Capital which retained the management team and committed to support the company expansion plans.

Amber Taverns runs innovative operator agreements which are designed to incentivise tenants by offering them a share of the pub’s takings.