PUBS operator Punch Taverns surprised the City by revealing a bigger-than-expected jump in sales.
Punch, one of the UK’s biggest pub companies with about 6,700 outlets, said like-for-like sales at its managed pub estate rose by 8.6% in the 12 weeks to March 5.
This compared with a 2.2% increase during the previous quarter. Like-for-like food sales were 11.7% ahead.
Punch said the improvement followed the refurbishment at 15% of its 800-strong managed pub estate and a focus on improving operational standards.
Punch said it also saw sales growth of 5.2% in those pubs not yet subject to investment.
