Brakspear reports sales uplift despite ‘tough trading year’
J T Davies & Sons, the parent company for pub operator and brewer Brakspear, has reported a 3.6% like for like uplift in draught beer and cider volumes through its pubs for the year ending 31 December 2012. Over the same period, total turnover grew 7.1% to £16.4 million.
Operating profit rose by 12.8% to £4.6m and profit before tax and exceptional items was up by 20% at £2.7m.
Chief executive Tom Davies said,
“The uplift speaks volumes for the talent of our tenants and lessees, who, aided by the increased marketing, training and business support we are now giving them, were able to keep their pubs busy and profitable, despite the unpromising environment.”
Brakspear purchased five pubs during 2012, at a cost of £7.4 million, and started its redevelopment of the Bull on Bell Street in Henley, which became its first managed pub in March this year. It invested a total of £1.8m in improving its existing estate, including a major refurbishment of the Crown in Playhatch near Reading and a number of projects of varying scales at other pubs.
During 2012, Brakspear also bolstered its support for pubs, recruiting a second designer to help tenants and lessees with refurbishments as well as a marketing manager to create estate-wide promotional activity and help individual business partners market their pubs. It also put in place a training programme, offering free courses on beer and cellar management, wine knowledge, improving food margins, driving footfall and using social media.
Davies added,
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