Pubs report positive first quarter in 2014
Orchid chief executive Rufus Hall said: “Trading has definitely been better than expected in Q1. Across the quarter we are up 5.5% on last year, and that is including the poor weather we endured in February. We had the best January and March that we have ever had.”
James Baer, managing director of Amber Taverns, said: “Trading for the first quarter has been positive both versus budget and like-for-like. This is due to a combination of no snow and some great televised sport.”
Nightclub operator Luminar said trading has been “in line with expectations” but year-on-year comparisons are effected by the movement of Easter, which fell in March last year. Like-for-like sales grew 2%.
JW Lees managing director William Lees-Jones said like-for-likes grew by 5% (managed +3%, tenanted +6%, free trade +9%). Loungers finance director Nick Collins said trading was “broadly as we expected” albeit slightly dampened by the wet February.
Rapid progress
Beds & Bars spokesman Robert Savage said: “Business has been as we’d expect for the period — with trade accelerating rapidly, in line with an annual increase in spring travel.”
Meanwhile, Hall said he was “very optimistic” for the rest of the year, highlighting the 30%+ return on recent investments and the “fair wind” of the economy.
Collins said: “We are optimistic in terms of trading for the rest of 2014. Consumer confidence and sentiment are increasing, if cautiously, and we are well-placed to benefit from this.”
Baer said: “I am reasonably positive about the coming months. We have a very exciting climax to the Premier League as well as the World Cup to look forward to, plus some of the squeeze on the consumer is easing, helped by the duty cut.”
Full details of the poll can be found on M&C Report.
