December puts brake on salesat OEPC
SALES in the Old English Pub Company (OEPC) fell 2.9% during December compared with the same month in 1997.
Issuing its December trading statement, the group also admitted there were troubling times ahead.
"There is no doubt that trading is getting more difficult and we would be delighted to finish the financial year showingpositive like-for-like sales in the last quarter of the year," said a spokesman.
The group, which has 173 coaching inns and pub-restaurants, including 2,198 letting rooms in 113 coaching inns, has confirmed it is changing its name to the Old English Inns Company (Caterer, 17 December 1998, page 19). It will adopt its new name on 1 March.
Sales for December were up 70% against November's figures. On Christmas Day 9,962 guests took lunch (an increase of 64% on the previous year).
Food sales during the month increased by 63% compared with November; lettings rose by 163% and drink sales were up 48%.
Sales for the nine months ended December were up73%, compared with 71% at the time the interim results were announced on 4 November.
A spokesman for the group said that, despite the difficult times ahead: "Our overall sales growth continues to look healthy. We will continue our acquisition programme and the prospects for the future of the company remain very bright."
