The City Pub Company announces 75% sales increase
The City Pub Company has seen a 75% increase in sales, driven by eight acquisitions in the past year.
The company comprises the City Pub Company East, which has eight pubs plus three in refurbishment; and the City Pub Company West, which has six pubs overall. Its most recent opening was the Temple Brewhouse in Fleet Street, next to another City Pub Company site, Daly's. The latter is to re-open this February following a refurbishment.
The London-based group also appointed Tarquin Williams as finance director in March 2014. He previously worked in finance at the Ladies European Golf Tour, and before that as finance controller at Fuller's for 15 years.
Chairman Clive Watson commented on the successful year. He said: "In 25 years in the trade, this is the best Christmas I have ever seen in businesses that I have been involved with. It also gives us much confidence for the year ahead… we look forward to strong progress throughout 2015."
He confirmed that the group planned to continue its expansion and hoped to acquire more pubs in the next year.
The City Pub Company was founded by John Robert, a former director of Fuller's; and David Bruce and Clive Watson, former owners of the Capital Pub Company, in 2011-12, after both the "East" and "West" parts of the company set about raising up to £10m of equity each.
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City Pub Company acquires three pubs and makes two appointments >>