Punch sees sales uplift thanks to managed pubs

Punch Taverns has seen a surprise uplift in like-for-like sales for the 16 weeks to 11 December, despite the freezing weather.

The company, which has more than 6,700 sites, said investment at its food-led managed brands - Chef & Brewer and Fayre & Square - helped lift sales in the division by 2.6%.

However, the poor weather in November and the start of December did have some effect, taking off around one percentage point from its managed sales performance.

The figures came as speculation mounted that the company, led by chief executive Ian Dyson, might hand back its tenanted estate to bondholders, freeing it from its debt of almost £3b and allowing it to concentrate on its 800 managed pubs.

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By Neil Gerrard

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