Scottish pub company and brewer Belhaven showed today that the rapid expansion of its estate was paying dividends, as it posted a 31.4% increase in pre-tax profits for the year.
The group, which has increased its estate from 42 to 226, said pre-tax profits for the year to 28 March had seen a record increase, to £14.2m, from £10.8m at the same point last year.
Turnover rose by 20.2%, from £79m to £95m, and operating profits came in 27.4% ahead, up from £13m to £16.6m.
The pubs division of the company reported a 31.3% increase in operating profits.
During the past year, the company has spent £28.8m on the expansion and development of its pub estate.
Trading in the new financial year had started “very satisfactorily”, with sales ahead on the previous year and 16 pubs added to the estate, the company added.
by Nic Paton
Buy this week's Caterer magazine for more industry news and analysis