Drink sales drop at Globe Pub Company due to poor summer

Globe Pub Company, the tenanted estate of 443 pubs owned by property investor Robert Tchenguiz, has become the latest hospitality business to see sales slump as a result of the poor summer weather.

Globe said trading conditions in the three months ending 1 September were “challenging” due to the weather, which led to drink volumes bombing 14% year-on-year.

Globe said the comparison was made more complicated due to the good summer of 2006 and an uplift from the football world cup held that year.

It added it was also unable to pin the decline on the smoking ban and said the true affect on business of the legislation introduced on 1 July in England would only be clear after this year’s winter.

Globe, which is managed by Scottish and Newcastle Pub Enterprises, posted sales of £12.9m for the three months ending 1 September, down from £13.1m this time last year.

Pre-tax profits fell from £7.2m a year ago to £6.97m.

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By Christopher Walton

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