GOOD FOOD HELPS ELDRIDGE POPE
INVESTMENT in refurbishments and the provision of good food is taking the credit for higher profits at Eldridge Pope pubs.
Eldridge Pope, the pubs, brewing and bottling group, has reported higher-than-expected profits from its pubs division for the half year to the end of March 1994, although figures for the division have not been released.
Overall the group reported significantly higher pre-tax profits of £606,000, up from £203,000 in the same period last year. This is mainly due to a reduction in interest payments.
The group manages 100 pubs and leases a further 80 pubs. In the past year it has significantly refurbished 10 of its managed pubs, including the Beehive in Bournemouth and the Crystal Palace in Bath, at an expense of £1m.
The company claims to have seen returns up by 25% in pubs that have been refurbished. It is continuing to refurbish other pubs this year, although managing director Jeremy Pope said: "This will be done selectively, we are not chucking money at them."
Pope believes continued investment in catering is essential. "We are finding that business is best where good food, as well as drink, is offered. We are not abandoning the idea of the traditional pub - we are realising that we need to offer that little bit extra."
