City Pub Group profits soar


City Pub Group has seen soaring profits for 2018, as the group continues to expand across London and the South.

City Pub Group made an adjusted profit before tax of £5.1m up by 60% compared to 2018, revenue was up 22% to £45.7m and like-for-like sales rose 1.6%

Executive chairman Clive Watson said. “Our performance has been driven by both organic growth and the new pubs coming on stream.

“Considering the continued strong performance, we are delighted to increase our dividend, by 22% for shareholders.

“We are positioned to meet the number of well-trailed headwinds, not least the challenges brought through Brexit, and to take advantage of the softening market for acquisitions with our robust balance sheet and strong cash generation.”