City Pub Group sales rose 22% in 2018

Sales at pub chain City Pub Group rose 22% across 2018, as the company continues to expand its portfolio in the UK.

(Photo: City Pub Group)

Total turnover for the year was £45.6 million, an increase of around 22% compared to 2017, according to the company’s trading update. It said that like for like growth was led by volume, as the company didn’t increase its prices until towards the second half of the year.

City Pub Group completed its purchase of a freehold site in the centre of Cardiff in a deal worth £2.2 million in December, and is in the process of buying two more sites’ one in Exeter, and an extension to its current site in Norwich totalling £3 million.

The festive season also helped to drum up revenue. Like for like sales over the six week period ending 6 January were up 7%.

The group hopes to add a further four pubs to its portfolio by 2019.

The pub group was founded by Clive Watson in 2011, who floated the business on AIM in December 2017 with a view to raising £30m for its ongoing expansion. The group surpassed its target, raising £35 million with shares valued at 170p.

The company has grown “very rapidly over the last 2 years, performed well and our new sites are showing their potential,” Watson said.

“Our low gearing puts us in an enviable position to take advantage of attractive acquisition opportunities that present themselves. If we enter a period of uncertainty caused by Brexit, there is much we can continue to achieve organically.”

Watson, 56, previously owned Capital Pub Group, but sold the company to Greene King in 2011 for £93 million. His Chelsea pub, along with daughters Lucy and Tiffany, have starred in Channel 4 reality show Made in Chelsea, with Watson himself making a guest appearance.

The company currently owns 44 sites across the south of England, most of which are run on a freehold basis. It spent £12 million on nine pub acquisitions this year.

Leave a Reply

Your email address will not be published. Required fields are marked *

Please note that comments are subject to our posting guidelines in accordance with the Defamation Act 2013. Posts containing swear words, discrimination, offensive language and libellous or defamatory comments will not be approved.

Subscribe to our newsletters

Show Coordinator

Speciality Drinks
London, UK

Key Account Executive

Berkmann Wine Cellars
London, UK

Sales and Marketing Director

New Generation Wines
London, UK

Brand and Marketing Manager

New Generation Wines
London, UK

Sales Director

Manchester Gin
Manchester, UK

Sales Account Manager x 2

Berkmann Wine Cellars
London, UK

Business Development Manager / Account Manager

Harviestoun Brewery
Glasgow, UK, Scotland West

Staff Writer

The Drinks Business
London, UK

Customer Services Administrator

Speciality Drinks
London, UK

Wines from Spain Annual Tasting 2019

London,United Kingdom
7th Mar 2019

RAW WINE London

London,United Kingdom
10th Mar 2019
Click to view more

The Global Riesling Masters 2018

View Results

Rioja Masters 2018

View Results

Click to view more