LT Pub Management Swings into profit

The company, which was created in February 2010 when it acquired LT Management Services with c350 pubs under management from the administrator of London Town, also reported turnover of £27.4m in the year.
In its first 10 months of trading to 26 December 2010, the firm reported a pre-tax loss of £394,000 on turnover of £16.9m.
Operating profit before depreciation and amortisation in the 12 months to 25 December 2011 was £898,000, against a loss of £227,000 in the previous reporting period.
The company runs around 1,100 pubs, either on a lease, as temporary managed sites, under service agreements with other pub companies, insolvency practitioners or banks and also on a caretaker basis.
It listed the economic climate as a principle risk and uncertainty. “The economic environment, particularly with regard to consumer confidence and spending, remains very uncertain and increases in VAT and duty on alcohol will put additional pressures on revenues,” the firm said.
LT Pub Management said the recruitment and retention of highly skilled and professional managers “continues to be a principle focus of the group’s management team since this is a key driver for the overall quality and profitability of the business”.
Among the new sites taken on by LT Pub Management in 2011 were the 12-strong Castle Inns estate in Scotland. M&C Report understands that the company took on a large number of the c170 pubs operated by pub management company Startmore after it went into administration last year.