City Pubs Group released interims; strategy drives sales

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The City Pub Group announced revenue growth in its interim results, up 36% to £27.1m (2018: £20.0m).

Like for like sales increased by 2.6% year on year, and adjusted profit before tax was up 19% to £1.9m (2018: £1.6m).

The company has continued its strategic expansion with four pubs opened in 2019. The expanded estate and its wet-led focus resulted in substantial EBITDA and sales growth.

Clive Watson, Executive Chairman of The City Pub Group, said:

'Our targeted expansion of high-quality larger pubs with letting rooms has delivered strong progress for the Group in the first half. In the face of robust comparatives, we have delivered good like for like growth too. As our development sites begin trading during 2020, they will drive our performance onward. Our momentum has continued into the second half with strong sales growth.'