Amber Taverns reports strong sales over festive season
The Lancashire-based firm, which has a portfolio of 93 pubs across Northern England, the Midlands and North Wales, saw a 6% uplift in like-for-like sales over the 12 day festive period.
"This is a pleasing performance in what was a mixed period on the weather front which, once again, illustrates the ongoing appeal of well run, wet-led community pubs, generating sustainable growth in the geographies in which we operate,” said Amber Taverns chairman Clive Preston.
“Amber continues to go from strength to strength and we remain within reach of our target of achieving a 100-strong pub portfolio by the end of this year."
Refurbishment and investment
Amber Taverns said it was currently refurbishing two of its pubs in Chesterfield and Hull, and had plans to complete 'extensive refurbishment' on a further four pubs in Sedgley, York, Carlisle and Ferryhill by the end of Q1 2014.
The company also revealed plans to invest £1 million in capital expenditure on beer gardens at another six pubs in its portfolio.
Impressive growth
Amber Taverns, which is backed by investment firm LGV Capital, has achieved impressive sales and revenue growth in recent years, and was named The UK’s Best Community Pub Operator at the 2013 Publican Awards.
The company has attributed its success to its determination to stick to a wet-led model for its pubs, offering value for money as well as full access to major televised sporting events.
In September, Amber agreed a major funding deal with Lloyds Bank, which saw its debt facility increased by £5m to £27.5m and paved the way for further expansion and renovations. The company is keen to expand into areas of the south of England, as well as improving coverage in the north.
