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Mon 21st Oct 2013 - PBR transfers nightclubs to LT Pub Management
Premium Bars and Restaurants transfers management of eight nightclubs to LT Pub Management
Anglian Country Inns reports turnover and profit boost
AMT Coffee reports 5.3% rise in like-for-likes in 2012: 

Premium Bars and Restaurants transfers management of eight nightclubs to LT Pub Management: Premium Bars and Restaurants (PBR) has transferred the management of eight late-night venues to LT Pub Management, the specialist out-sourced management company led by Billy Buchanan. The venues have been operated by Eclectic Bars for the past 14 months. PBR non-executive director Gavin Gracie said: “Eclectic Bars has done a first-rate job running these sites for the past year or so. The transfer to LT Pub Management will allow Eclectic to focus on rolling out its core brands. We chose LT Pub Management to take over the management because of the company’s extensive experience in the nightclub sector.” LT Pub Management chief executive Billy Buchanan said: “We are delighted to have been chosen by PBR to manage these eight sites and look forward to further building the performance, in partnership with the staff during the remainder of the sale process.” The management change follows the sale by PBR of the 13-strong Living Room brand in August to Stonegate Pub Company.

Anglian Country Inns reports turnover and profit boost: Four-strong gastro-pub and restaurant operator Anglian Country Inns, led by James Nye, has reported a boost to turnover and profit in the year to 31 March. Turnover rose by 22% to £6,035,638 driven by a “strong first full-year performance” at its Hermitage Road site in Hitchin, Hertfordshire. Pre-tax profit rose to £244,575 from £91,841 the year before – Ebitda for the most recent year was around £650,000. Dividends of £112,500 were paid compared to £130,900 the year before. Executive chef Harry Kodagoda joined the board in February this year. The company stated: “Operating margins have been maintained at the same levels as 2012 despite the continuing economic pressures perhaps reflecting that the group’s target market is more resilient to the difficult economic times.” Its accounts show that its flagship White Horse in Brancaster Staithe, Norfolk was valued at £3m by Colliers International in March 2011. Earlier this month, The White Horse was awarded a Cesar by the Good Hotel Guide – these are given to its choice of the ten best hotels of the year countrywide.

AMT Coffee reports 5.3% rise in like-for-likes in 2012: Transport hub coffee provider AMT Coffee, owned by the McCallum-Toppin family, has reported sales of £22,898,344 in the year to 24 December 2012 (2011: £22,952,397). A rise of just over £1m in distribution costs saw pre-tax profit drop to £757,120 compared to £1,377,962 the year before. Consolidated underlying Ebitda was £2,191,889 compared to £2,773,406 with like-for-like sales, excluding closed sites, up 5.3%. During the period, the company recognised a profit-and-loss account charge of £225,000 relating to under-declared VAT. The company said underlying profit before tax was £982,120 compared to £1,377,962 the year prior. Of the company’s turnover, £20,948,114 comes from the UK while £1,950,230 comes from branches in Belgium and Ireland – overseas income was down by £1.1m in the most recent year whilst UK income rose by £1.05m. 

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