Spirits raised as pub policy reaps reward

The owner of Chef & Brewer and Fayre & Square said investment in its pubs was paying off after it reported a 7 per cent rise in half-year profits.

Spirit Pub Company, which has 1,300 pubs following its demerger from Punch Taverns last summer, said its managed estate continued to outperform the market after like-for-like sales improved 5.6 per cent in the six months to March 3.

It has completed three-quarters of its investment programme, with brands such as Chef & Brewer and Taylor Walker now refurbished and attention turning to Flaming Grill, John Barras and Original Pub Company sites.

Despite the investment and “substantial” cost pressures, Spirit, which has around 130 Yorkshire pubs, said pre-tax profits were up to £20m from £18m a year earlier.

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