Warm weather gives Spirit a summer tonic
Spirit Pub Company has reported strong fourth quarter sales boosted by the hot summer.
The group, which has more than 800 pubs with brands including Taylor Walker and Flaming Grill, said that like for like sales at its managed pubs for the 12 weeks to 17 August 2013 were up 4.1%, boosted by a rise in food sales of 4.7% in the period.
It said that the fine summer weather had helped boost results when compared with last summer, which included events such as Euro 2012 and the Olympics.
Like for likes sales in the 52 weeks to 17 August 2013 were up 1.6%, propped up by food sales growing 2.8% in the period, while drink sales dropped by 0.6%.
In its leased pubs turnover was up 2.2% in the final quarter but down 0.4% on the 52 weeks to 17 August 2013.
Chief executive Mike Tye, said: "We have delivered a strong finish to the financial year in both estates with our performance reflecting a combination of improved weather over the summer and further execution of our strategy.
"We expect full year earnings to be in line with market expectations and remain well positioned for further growth."
