Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

Punch Taverns reports EBITDA drop of 2.8%

22 April 2015 by
Punch Taverns reports EBITDA drop of 2.8%

Punch Taverns has reported EBITDA of £105m for the 28 week period to 7 March 2015, down from £108m the previous year, a fall of 2.8%.

The company, which currently has a core estate of 3,653 pubs, said that the figure will ensure that the full-year EBITDA figures will be between £193m and £200m.

Revenue for the period was £222m (£131m net).

Stephen Billingham, executive chairman of Punch Taverns, said the latest figures were in line with the company's expectations.

"Group debt has materially reduced following the completion of the capital restructuring on 8 October 2014 and we have delivered strong cash flow generation during the first half. All of our debt is long-term securitised debt with no short-term bank debt and we have a clear path to further debt reduction.

Punch Taverns has reduced its net debt by £53m since the capital restructuring in October.

Duncan Garrood will join Punch as chief executive, from his role as president of the food division of MH Alshaya, in June.

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking