- Morning Advertiser >
- Forums >
- News Article Comments >
- Admiral Taverns "broadly in line" with forecasts
News Article Comments : Admiral Taverns "broadly in line" with forecasts
Admiral Taverns pubs are trading “broadly in line” with expectations except in relation to AWP income, according to managing director Lynne D’Arcy.
The company, which currently has a core estate of 2,093 pubs with another 190 on the market, had forecast before the start of last year’s smoke ban that beer volumes would drop by 7%. D’Arcy said that beer volumes and income was not “far from’ the 7% drop it had anticipated.
“Everything apart from AWP income is broadly in line,” she said. Last year, Admiral Taverns conceded it might have to offer tenants rent concessions to help them get through the first year of the smoke ban.
D’Arcy said rent concessions had not been necessary because the company has followed a pro-active route with capital expenditure schemes, funding smoking solutions and help with introducing food offers.
“We have helped where we see an opportunity,” said D’Arcy. “Other than that we’ve been quite aggressive in selling pubs.”
D’Arcy conceded that machine incom
| Author Name | Opinion | Reply |
|---|---|---|
J Mark Dodds 13/08/2008 18:19:14 |
Love it. Lynne, like other top execs across our noble trade, is fully on top of not releasing the detail while appearing to be completely up front: Beer volumes and income was not “far from’ the 7% drop" it had anticipated. HOW FAR FROM 7%? 1%? 2%? 3% 4% - errhm 10%? “Everything apart from AWP income is broadly in line,” BROADLY IN LINE? How broad is the line?
“We have helped where we see an opportunity,” SOUNDS GENEROUS. BUT WHAT IS AN OPPORTUNITY?
"funding smoking solutions and help with introducing food offers". SOUNDS LIKE THEY HELP ORGANISE SPENDING SOME MONEY ON THEIR PUBS AND THEN HIT UP THE TENANTS TO PAY FOR IT.
“We have helped where we see an opportunity,” "funding smoking solutions and help with introducing food offers". edited by: J Mark Dodds at: 13/08/2008 18:21:01 This post replies to this thread |
|
Stephen Corbett 13/08/2008 18:28:11 |
“Other than that we’ve been quite aggressive in selling pubs.” What does that mean? Buy our pubs or we will go out of business because we cant give any real financial support to our tenants? Now that’s aggressive alright… This post replies to this thread |
