Trading bounces back at City Pub Group
City Pub Group has bounced back after tough winter trading with sales up 23%.
That is according to a trading statement released by the group for the first 18 weeks of the year, in which it said strong trading has made up for the earlier snow.
The group has 36 pubs across the UK, and since announcing its annual results on 12 April has opened Tell Your Friends, a vegan pub in London's Parsons Green.
City Pub Group is also in the process of investing in and developing six sites, including Aragon House in London's Parsons Green, the Old Ticket Office in Cambridge, and pubs in Cardiff, Reading, Oxford and Cambridge.
Clive Watson, executive chairman, said: "We are pleased that recent trading has bounced back strongly following some tough weeks during the inclement weather earlier this year. Our pubs have strong and relevant customer offerings which is evidenced well by our continuing growth.
"We are excited by our new opening pipeline and with the development of those acquired. The strength of our balance sheet enables us to purchase development sites or trading sites, whichever delivers long-term value for the group. More pubs are currently being appraised and we envisage our pipeline expanding further this year. We remain confident in our strategy and execution of our plan. Whilst still early in the year and with exciting events to come such as the World Cup, where we should trade well, we are well placed to meet expectations for the year."
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