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Thu 5th Jan 2017 - Stonegate reports 5.7% like-for-like growth over festive period
Stonegate reports 5.7% like-for-like growth over festive period: Stonegate Pub Company, the operator of 691 drink-led, high street bars, has reported that it has performed strongly over the festive four week period (5 December to 1 January). The company stated: “All of the Group’s formats performed well during the core four week festive period with total like-for-like sales growth up 5.7%, following a strong performance over the same period last year. Encouragingly, all areas of the country were in growth. Stonegate operates a multiple format strategy approach, with a portfolio which operates across a wide variety of focussed trading formats spanning high-street pubs and traditional country inns, local community pubs to bars for younger 20-30 something customers, as well as late-night bars and venues. Whilst all of the Group’s formats demonstrated growth over the period, our cocktail masterclasses proved extremely popular in Slug & Lettuce. In addition, pre-booked sales were also strong across the group. Following the acquisition of 30 sites from Intertain in December 2016, further consolidating Stonegate’s position as a leading high street, managed pub operator in the UK, the integration of these sites, which primarily operate under the Walkabout concept, is now complete. Encouragingly, these bars traded in line with expectations over the Christmas and New Year period and, as such, have contributed to the Group’s overall festive success.” Simon Longbottom, chief executive of Stonegate, said: “We had a strong festive trading period, building on the positive like for like trading momentum which Stonegate delivered in 2016. The benign weather leading up to Christmas undoubtedly benefitted trading and this continued into the core Christmas and New Year period. Encouragingly all of our trading formats performed well in spite of an unseasonably light sporting fixture programme over the festive period and it was particularly pleasing to see some of the pubs we have acquired – and invested in – over the last 12 months performing particularly strongly. We enter 2017 with positive trading momentum and this year will also see the Group benefit from a full contribution from the Intertain acquisition. This, together with the leading team in drinks-led pub retailing, a well-invested estate and a growing reputation as the consolidator of choice in the high street pub sector, leaves Stonegate well-positioned and we look forward with confidence to another year of progress.”


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