Town and City Pub Company boosts turnover by 59%

Affordable drink and food offers have helped turnover shoot up 59% at Town and City Pub Company for the year to 28 February 2010.

The company recorded like-for-like sales growth in the year of 9.5%, thanks to strong trading over Christmas. The firm said it saw a like-for-like sales increase of 8.1% throughout December compared to the same period in 2008 as Christmas bookings across the group rose 40%.

Town and City also indicated that its estate of 147 pubs and bars, half of which operates under the Yates brand, saw an £11m investment in developments and acquisitions.

And it added that trading had been strong since the end of February. During that time the company has added Slug and Lettuce to its portfolio, which has taken its estate to 230 sites.

Meanwhile, the World Cup provided a 10.2% like-for-like sales boost compared to the same period in the previous year.

Chief executive Toby Smith said: "We are delighted with these results, it is a terrific performance given the economic backdrop and we will continue to evolve and invest in our business. We are excited about the addition of Slug and Lettuce and we remain optimistic for the rest of the year."

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By Neil Gerrard

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