Heartstone Inns boosts annual turnover and reduces losses

23 April 2010 by
Heartstone Inns boosts annual turnover and reduces losses

Pub operator Heartstone Inns has increased its turnover to almost £3m for 2009, following the acquisition of its fifth pub, the Bun Penny in Hampshire.

The company made a pre-tax loss of £456,315 for the 12 months to 31 December 2009 - a smaller figure than the pre-tax loss of £549,975 it made in the previous year.

Heartstone, which was set up by industry veterans Stuart Hawthorn and James Birch in 2007, indicated that it was "delighted" with a 7% increase in like-for-like sales for the year.

And it indicated that operating profits at pub level improved by £137,493 to £416,423.c

Heartstone said that it was not planning to make any further acquisitions in the future, although it did set up Heartstone Inns 2, in June 2009. Heartstone Inns 2 acquired its first pub - the Boatman in Guildford - in September 2009.

Heartstone's other pubs include: the Butchers Arms at Sheepscombe, Gloucestershire; the Cricketers at Shroton, Dorset; the Digger's Rest at Woodbury Salterton, Devon; and the Hare & Hounds, Putts Corner, Devon.

Heartstone Inns buys fifth site >>

Heartstone Inns buys Dorset pub for £835,000 >>

Start up Heartstone Inns raises more cash for expansion >> By Neil Gerrard

E-mail your comments to Neil Gerrard here.

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