Spirit Pub Group reports strong half year sales
Spirit Pub Group has announced that like for like net sales for the half year to March 2014 were up 4.8%.
In a trading update it said that there was good momentum in both food and drink sales, compared to a snow hit start to the year in 2013.
Like for like food sales were up 6.7% in the 28 weeks to March 2014, while like for like drink sales were up 4.3%.
In its leased estate like for like net turnover was up 2.9% in the period, while like for like net income grew 2.6%.
Chief executive Mike Tye said: "While this short eight week period of trading has benefitted from the milder winter weather, our leased estate continues to make positive progress and we are confident that our managed estate will continue to go from strength to strength. We remain focused on further improving the quality of our estate through investment in our people, properties, and licensees complemented by innovation, brand evolution, and selective acquisitions and disposals."
Spirit reports 6% rise in profit as it looks to refinance £700m debt >>
