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Fri 21st Jun 2013 - Breaking News - LT Pub Management plans major expansion
LT Pub Management plans for expansion: LT Pub Management, the industry’s leading provider of out-sourced management and back office administration for pubs, hotels, restaurants and nightclubs, is in advanced talks over a number of new contracts that are expected to lead to a substantial increase in the portfolio of assets it runs. The company, which is led by Billy Buchanan and operates more than 1,000 properties for third party owners and others, has invested in strengthening in its management structure as it gears up to take on the additional work for companies looking for bespoke solutions for managing assets or reducing costs. Buchanan told Propel: “The business continues to do particularly well. We’ve invested considerable amounts this year in positioning the company for expansion, with additional staff and systems strengthening. We expect the current financial year will provide a substantial boost in turnover and profits as we take on new business. Last year’s contract wins meant additional costs into the early months as we integrated new sites with profits flowing through later on, which will also boost performance in the current year. We are seeing extremely high demand for the company’s services as asset owners look for specialist skills to improve turnover and profits at sites or reduce their back office costs.” The company won a major contract last year to provide back office systems to run a major chain of restaurants. It also operates pubs on behalf of Punch, Star Pubs & Bars, Wellington Pub Company, and Enterprise Inns, where it runs Project Renaissance, focused on turning around challenging pubs. It also runs assets on behalf of KPMG, PwC, Grant Thornton, Deloitte, Barcap and IBRC. LT also won the contract to provide back office systems and operational support for Little Chef last year, as owner R Capital looked to return the estate to profitability. The range of the company’s work has included running the food and beverage operation at Portsmouth Football Club when it was placed in administration. The company is, however, reducing the number of leased pubs it runs directly, to focus resources on the expanding areas of the business. Turnover at LT Pub Management was £24.3m in the 53 weeks to 30 December 2012. Administration costs have increased by circa £1m as the business gears up for new contracts.

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