Capital Pub Company loses chief executive and finance director

The chief executive and the finance director of London's Capital Pub Company are leaving the business to pursue other interests, it was revealed today.

David Bruce, chief executive and co-founder of the group, and David Kenyon, the pub operator's finance director and company secretary, stepped down today as the company published its year-end results.

Bruce, who is leaving to spend more time on his charitable trust and other entrepreneurial ventures is best known for setting up the Firkin chain in the 1990's.

He will have his responsibilities assumed by business co-founder and managing director Clive Watson.

The company said that Kenyon was leaving Capital to pursue a new career opportunity. His replacement is yet to be announced but a successor is promised soon.

Capital, which owns 24 pubs in London, saw its revenues increase by 32% to £18.8m while pre-tax profits rose by 21% to £4.48m for the year ending 29 March.

Capital has become increasingly acquisitive since floating on the Stock Exchange's Alternative Investment Market last year, buying six pubs and disposing of three in the past 12 months, while over the past two years its has acquired over half of its current estate.

Watson said: "We have had an active year and have continued to improve the quality of our trading estate. The London market continues to outperform and current trading is in line with the Board's expectations.

"Over the next 12 months the current challenges facing our industry should provide us with further acquisition opportunities at more advantageous prices," he added.

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By Christopher Walton

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