PUB operator Punch Taverns today reported a big rise in profits and sales following its latest acquisitions.
Punch, which has 63 pubs in the Huddersfield area and 465 across Yorkshire, lifted pre-tax profits by 39% to £103m in the six months to March 5. Turnover was 33% up at £404m.
The group, which is the UK's second largest pub owner with 7,800 outlets, said the Pubmaster and InnSpired properties acquired last year were trading well.
Punch customer services director Francis Patton said: "These results represent a good start to the financial year.
"In Yorkshire, we have invested £1.5m in refurbishing 23 pubs. Those former Pubmaster and InnSpired pubs have settled in well."
Punch had invested £26m in refitting almost 400 pubs UK-wide during the six months.
Mr Patton said Punch remained on the lookout for further potential acquisitions.
He said the group took note of warnings about a possible slowdown in consumer spending, but added: "The industry tends to be reasonably resilient."
And he said the group was in a strong bargaining position to resist rises in raw material and energy prices sought by its suppliers.
Chief executive Giles Thorley said Punch remained confident "of a satisfactory outcome for the year".
