Pubs n Bars satisfied with results
Pubs n Bars chairman Seamus Murphy said the company had had a satisfactory year and could be well placed to take advantage of the smoke ban.
Announcing the company's annual results he said: "Smoking in all pubs, bars and private clubs will be banned from Summer 2007.
There is little doubt that the ban will, initially, badly affect all pubs and bars, but your Board is of the opinion that your Company may suffer to a lesser extent than some of its competitors. Most of our premises have outside spaces, which can be adapted to accommodate smokers, at fairly low cost, by creating covered areas and providing heaters. In the longer term the ban may help improve pub attendances by encouraging non-smokers and families to visit pubs. Private clubs are included in the ban, so there are no easy alternatives available."
He also took the opportunity to say one of the biggest challenges facing the business was the availability of cheap beer in supermarkets.
He said this combined with illegal imports, led to binge drinking which the pub trade often took the blame for and he called on Government to look closely at the situation.
Overall, he said: "I am pleased to report another satisfactory year for your Company, despite little improvement from the previous year's difficult trading conditions."
Operating profit over the company's 68 pubs was up 37.5% and like-for-like sales in the first four months of this year have shown an increase of 3.6% over the comparable period of 2005.
He said the company would pursue its policy of purchasing freehold pubs and also of acting as manager of pubs owned by third parties.
