City Pub Group sees ‘strong sales momentum’

pub & bar

By Finn Scott-Delany

- Last updated on GMT

City Pub Group sees ‘strong sales momentum’

Related tags: City Pub Group, Pub & bar

City Pub Group has reported like-for-like (LFL) sales have continued to strengthen faster than predicted, with May 2022 5% ahead of May 2019.

Last week’s trade – which included the Jubilee bank holiday celebrations – was particularly strong, with LFL sales up in excess of 20% versus 2019.

Each pub organised its own activities and events, enhancing the individuality of the group’s estate.

Following delays caused by the pandemic, City Pub Group recently opened The Oyster House in Mumbles and The Tivoli in Cambridge, with initial trading described as encouraging, and both expected to be top performers.

The Hoste and The Cliftonville Hotel have benefited from refurbishments; while new all-day trading concept, Damson and Wilde, in Bury St Edmunds, is expected to open next week.

Progress is being made on a development at The Nest in Bath, which is anticipated to open in August.

The group said it continued to seek ways of mitigating cost inflation, with particular focus on labour scheduling to maximise sales and efficiency.

Control of energy usage and procurement remains a key focus from both environmental and cost perspectives.

The company now has 'strong sales momentum' following three months of restriction-free trading.

A low net debt position allows City Pub Group to act 'decisively and quickly on acquisitions to create value'.

“We continue to see our sales growth reflecting the quality of our pubs and customer offering,” says Clive Watson, executive. chairman of The City Pub Group

“With a strong foundation to build on, and momentum that has been created through investment in - and opening of - our development sites, we look forward to an uninterrupted summer’s trading for the first time in two years.

“Despite the macro economic headwinds, recent openings, tight cost control and a low net debt position leave us well positioned to continue to develop our business both organically and through selective high-quality acquisitions during the rest of the year as opportunities arise.”

Related topics: Trends & Reports, Pub & Bar

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