Amber Taverns posts record full-year turnover of £120m, recent like-for-like sales up 5%, hires Glenn Pearson as new CFO: Wet-led, community pub operator Amber Taverns, which is backed by Epiris, achieved record turnover of £120m in the year to 2 February 2025, while like-for-like sales were up 5% in the last 12 weeks, as it said it was making progress in its ambition to build a nationwide presence. For the year to 2 February 2025, the 184-strong group saw turnover increase 9% to £119.9m (2024: £110.3m). Operating profit was up 10% to £19.7m (2024: £17.8m). Pre-tax profit grew 7% to £19.1m (2024: £17.9m). The company said: “Trading during the year was good overall, underpinning the continued demand for a great, value drinks offer, in comfortable, contemporary, well invested and maintained pubs with an engaged and welcoming licensee at the helm.” The business said like-for-like sales increased 3.5% in the year, with a particularly strong first half, which benefited from the Euros football championship in June and July 2024. The group said: “Despite global geopolitical instability continuing to exert significant pressure on the UK economy, as well as rising costs due to domestic factors such as increases in employers’ national insurance contributions and a substantial uplift in the national living wage, Amber’s wet-led pub model continued to prove resilient to these macro factors, and consumers continue to see strong value for money in Amber’s pubs, which offer a broad range of value products, as well as a more premium drinks selection. Entertainment has become a core component of the offer in many pubs with a focus on premium live sports coverage, as well as live music, karaoke and sports such as interactive darts.” The company said focusing only on drink sales enables it to provide “best-in-class value for money” and a tailored wet-led offer with a pint for as little as £3 or less. The business said: “Amber’s pub portfolio has benefited from high levels of historic investment, an ongoing refurbishment programme and every site is profitable.” During the year, Amber opened nine new pubs – in Bellshill, Cleethorpes, Derby, Bridgend, Prestwick, Jarrow, Whitley Bay, Cheltenham and Bedford. These sites were a mixture of existing licensed premises and former retail sites, which the company said demonstrated its ability to create thriving businesses in a variety of properties and locations. In its current financial year, Amber has so far opened ten new sites – in Airdrie, Motherwell, Bathgate, Leith, Huddersfield, Barry, Gosport, Guiseley, Johnstone and Norton. Sites in Taunton, Whitchurch, Bearwood, Nottingham and Helensburgh are either in, or about to undergo refurbishment. As previously announced, James Baer was appointed chairman of the business in August with Mark Brooke, formerly of Admiral Taverns and Ei Group, succeeding him as chief executive at that time. The company said Joanne Jones will retire as its chief financial officer at the end of November, following 15 years with the business, and she will be succeeded by Glenn Pearson, formerly of Admiral Taverns, who joins Amber after stepping down as chief financial officer at New World Trading Company this summer. Since the year end, Amber said it had continued to perform well and current trading remains solid. The group said: “Sales in the first half were marginally ahead on a like-for-like basis, as the period lapped the significant boost of the Euros. Encouragingly, like-for-like sales have increased to 5% in the last 12 weeks. The group plans to continue to grow its pub portfolio as further acquisition and development opportunities arise. In addition to continued organic investment in the existing estate, Amber has an encouraging pipeline with a variety of good new site opportunities and is looking to increase its level of expansion to add at least another 17 new pubs to its growing portfolio this financial year.” This includes its most southerly site to date, the Erasmus Wolfe which opened last month in Gosport. Amber said there will be a considerable focus on developing its southern footprint as the group looks to leverage its success in other geographies through England, Wales and Scotland, “progressing its ambition to become a nationwide operator”. Baer said: “This has been a landmark year for Amber in which we have achieved both significant strategic and operational progress and delivered another strong trading performance. Despite the best efforts of the government to dampen consumer confidence and impose unwelcome additional cost on the sector, we believe a well invested, modern community pub with an engaged and motivated operator will continue to prove a relevant and robust business model. We are delighted to have taken Epiris on board as the group’s new investors. We have an exciting site pipeline in place. We are very encouraged with the response to the opening of our most southerly pub to date in Gosport and look forward to increasing our southern footprint as we progress our ambition to build a nationwide presence for Amber. With a well proven formula of a value offer in a modern community pub environment, Amber remains well on track to continue to deliver solid trading results and further significant growth.”