Drink sales drop at Globe Pub Company due to poor summer

05 October 2007 by
Drink sales drop at Globe Pub Company due to poor summer

Globe Pub Company, the tenanted estate of 443 pubs owned by property investor Robert Tchenguiz, has become the latest hospitality business to see sales slump as a result of the poor summer weather.

Globe said trading conditions in the three months ending 1 September were "challenging" due to the weather, which led to drink volumes bombing 14% year-on-year.

Globe said the comparison was made more complicated due to the good summer of 2006 and an uplift from the football world cup held that year.

It added it was also unable to pin the decline on the smoking ban and said the true affect on business of the legislation introduced on 1 July in England would only be clear after this year's winter.

Globe, which is managed by Scottish and Newcastle Pub Enterprises, posted sales of £12.9m for the three months ending 1 September, down from £13.1m this time last year.

Pre-tax profits fell from £7.2m a year ago to £6.97m.

Marston's food sales drive growth despite affect of summer flooding >>

Smoking ban has had no financial impact on Capital Pub Co >>

Smoking ban fails to dent JD Wetherspoon's profits >>

Smoking ban no ‘significant impact' on Punch >>

Poor weather not smoking ban affects Fuller's >>

Mitchells & Butlers confirms Tchenguiz joint venture >>

By Christopher Walton

E-mail your comments to Christopher Walton here.

The Caterer Blog](http://www.caterersearch.com/blogs/catering-news-blog/) Catch up with more news and gossip on the Caterer Blog here
[Newswire For the latest hospitality news, sign up for our e-mail news alerts.
The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking