City Pub Group boosts turnover by 42%
Turnover of the City Pub Company has increased by 42% to £9m during the first six months of the year.
Half-year results for the group founded by Clive Watson and David Bruce, who originally launched the Capital Pub Company before selling it to Greene King in 2011 for £93m, also recorded EBITDA growth of 75% to £1.25m.
A Convertible Preference Share issue had raised £3.5m for the business, which will strengthen the company's balance sheet, reduce debt and drive further expansion
Clive Watson (pictured), chairman of City Pub Company, said: "These are exciting times. We have achieved significant progress in the first six months of the year and anticipate further development. I am confident that our new acquisitions will deliver excellent returns to our shareholders.
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