Propel Morning Briefing Mast Head Propel Hospitaliity website Paul's Twitter Link Subscribe Unsubscribe Web Version Forward Email Swifty Banner Morning Briefing Strap Line
Tue 6th Jan 2015 - Arkell's laments "bread and butter is over" as it reports results
Arkell’s reports turnover and profit boost: Swindon-based brewer and retailer Arkell’s has reported turnover grew by 6.4% to £19.861m in the year ended 31 March 2014. Profit before tax rose by 2.9% to £1.935m, including an exceptional item of £493,000 arising from the profit on the sale of a property. Pre-exceptional profit before tax of £1.441m is around £950,000 lower than was achieved in 2010 on turnover that was circa £670,000 lower in that year. The main reason for the turnover rise in 2014 was an increase in the number of managed pubs operated by the business. Accommodation revenue grew by 42% due largely to the acquisition of the Angel Hotel, Royal Wootton Bassett and building rooms at the Sun Inn, Swindon. Tenancy rents fell slightly due to transfers to managed houses, but on a like-for-like basis increased by 2.6%. The company sold one pub at a profit of £493,000 and closed a further two pubs during the year. Chairman James Arkell said in the annual report: “Change is all around our business as our bread and butter for much of our 171 years is over. Profitability of our tenants has come under immense strain. For all our help, visits, guidance, investment and enthusiasm, the viability of many pubs is just not sustainable because of overheads (lighting, heating, wages, 20% VAT – thank goodness the beer escalator has been removed) and the anti-alcohol lobby, which is still very vocal. Also our core customers have changed. Social and financial pressures have moved them on, not away but on, to different spend priorities with other aspirational choices. Our major investments in pub rooms continues and in this year we built ten bedrooms at the Sun Inn, Coate. This again reinforces our commitment to increase the pubs’ footprint for profit, rooms, caravans, outside eating areas. Nothing is off limits. We have invested in our unlicensed estate – pubs which have declined in volume and profit would not (otherwise) attain a reasonable price. It’s not easy for our staff – delivering to ever-changing customer demands, taking orders with charm in difficult financial times and reacting daily circumstances. Nothing is easy anymore and we take most days as they come – so my thanks to all of them. So though not easy to produce ever-rising profits, we have a clear direction and investment programme. We will continue to churn properties for the enhancement of our pubs and estate.” A dividend of £520,000 was paid.


Return to Archive Click Here to Return to the Archive Listing
 
Punch Taverns Link
Return to Archive Click Here to Return to the Archive Listing
Propel Premium
 
McCain Banner
 
Zapaygo Banner
 
Matthew Clark Banner
 
Deliverect Banner
 
A2Z Masks Banner
 
Pub Plants Banner
 
Yoello Banner
 
Ei Group Banner
 
OrderPay Banner
 
TipJar Banner
 
Trail Banner
 
Odamo Banner
 
Arla Foods Banner
 
Nestle Waters Banner
 
Yumpingo Banner
 
Camile Banner
 
Pepper Banner
 
The Leisure and Hospitality Collective Banner
 
LunchMate Banner
 
Biff's Banner
 
Zonal Banner
 
Swifty Banner
 
Yudu Banner
 
Orderbee Banner
 
Startle Banner
 
Pago Banner
 
Access Banner
 
Ten Kites Banner
 
Prestige Purchasing Banner
 
IOL Banner
 
COREcruitment Banner
 
Punch Taverns Link Punch Taverns Link
Wi5 Banner
ALMR Web Link Web Version Unsubscribe Subscribe Propel Info website