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Admiral Taverns reports first ‘absolute growth' in eight years

07 December 2015 by
Admiral Taverns reports first ‘absolute growth' in eight years

Admiral Taverns has reported absolute growth in turnover, operating profit and EBITDA for the first time in eight years.

The company, which has a portfolio of nearly 1,000 pubs, said that turnover was up 2.2% to £78.4m for the 52 weeks to 30 May 2015 (2014: £76.7m).

Operating profit for the period grew sharply, up 82.4% to £24.9m (2014: £13.6m), while underlying EBITDA rose 5.3% to £24.9m (2014: £23.6m).

Kevin Georgel, chief executive of Admiral Taverns, commented: "The last six years marks a transformational period for Admiral Taverns. Following a restructuring of the businesses in 2009, the group's management team was strengthened and a new strategy outlined to develop and maintain a sustainable, well invested estate of freehold pubs at the heart of their local communities."

He added: "Our strategy has remained unapologetically consistent and, despite the challenges presented to the industry by impending government legislation, we remain passionately committed to being the best operator of wet-led community pubs in the sector."

The company credited its strong performance to its continued focus on three core objectives: improving the performance of its core estate, disposal of unsustainable pubs, and development of team and organisation to deliver growth opportunities.

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