Oakman Inns growth continues

The pubco reported that like-for-like sales were up 4.2% for the 26 weeks ending Sunday 2 October. It also announced that a newly aquired site, Banyers House in Royston, will open to the public on 2 December.

It also announced a freehold site had been purchased in central Olney and a second site for the Enterprise managed expert partnership, Hunky Dory Pubs​, at the Four Alls in Welford-upon-Avon. It expects to have refurbished the site by spring 2017. 

Hunky Dory

Reporting on its other Hunky Dory site, the Beech House in Solihull, which opened in August, the pubco said trading was 'well ahead of expectations'.

Further additions are expected in the coming weeks to both the Oakman Inns portfolio, including a major site in Amersham, and Hunky Dory. These acquisitions will bring the number of sites in the Oakman group to 22 by June 2017.

Oakman Inns’ CEO, Peter Borg-Neal, said: “This is a pleasing result in the current environment and the business has also done well regarding key ratios, a reflection of the ongoing benefits of strengthening our operations team over the past year. As a result, we are comfortably ahead of our profit budget for the half year. Whilst we are happy with our sales performance we have seen a degree of volatility in recent months.

"Much of this can be explained by the variable weather and assorted sporting events. However, there is a general sense of commercial uncertainty and unease. The current trading environment is not for the faint-hearted, but we remain committed to our business plan.”