Stonegate posts gloomy annual report for period before summer pub surge
Stonegate Pub Company's annual results have painted a slightly gloomier picture of the firm's finances after reporting a huge surge in sales during the World Cup.
In their annual results for the year ending 24 Sep 2017, the chain confirmed they held 703 site, including Australian concept Walkabout and the Slug & Lettuce brand.
The company noted an uptick in revenue - from £642m in 2016 to £697m in 2017. However its pre-exceptional profit before tax fell to £11.6m, down from £16m the previous year.
Overall, after exceptional costs, the company reported a £22m loss compared to a £12.5m figure the previous year. In total, the company's accumulative loss since formation stands at £75.6m.
However the following year could be buoyed by 2018's sun and World Cup fortunes which have provided a boost for pubs. Stonegate reported like-for-like sales growth of 19.2% during this summer's World Cup, with the event and the hot weather prompting a huge surge in beer sales across the company's sites.
Over the period the company sold 4.5 million pints, with beer sales up by 550% during England games and an average of 44% for others. The biggest day for beer sales was England's semi-final defeat to Croatia, during which 367,000 pints were sold.
