Cold weather hits Spirit Pub Company’s sales
PROLONGED cold weather throughout January and February has hit sales at a Burton pub chain.
In a trading statement issued to the London Stock Exchange this morning, the firm, which owns several pubs in Derbyshire, said that in the eight weeks to March 2, sales at its managed pubs fell by 1.1% compared to the same period 12 months ago.
Its leased pubs fared no better with sales down 2.7%.
Spirit operates about 800 pubs, including the Chef & Brewer and Flaming Grill brands, half of which are leased.
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The company said it is making good progress disposing of underperforming pubs among its leased estate, having sold 20 so far this year.
Chief executive Mike Tye said: “Recent trading has been impacted by adverse weather conditions and, with the consumer environment remaining challenging, we are redoubling our efforts to improve the retail offer in all areas of our business to give our guests more compelling reasons to visit our pubs.”
Despite the slow start to 2013, Spirit said the company was still on course to meet its full-year expectations.