Pub group Punch reveals jump in sales after snapping up 74 sites

Punch Pubs has revealed a jump in revenues for the past year after snapping up 74 more pub venues.

The Burton-upon-Trent-based hospitality firm added that trading has been “strong” in recent weeks despite pressure on consumer budgets.

Boss Andy Spencer said the company has started the new financial year with “real confidence” despite economic pressures on the pub sector.

Punch revealed that revenues increased by 11.8% to £377.8 million for the year to August 9, compared with a year earlier.

The pub firm said the growth was partly linked to an acceleration in its growth strategy, with the company buying 74 pubs over the year, up from 35 pubs the previous year.

The expansion, which has taken Punch to an estate of 1,327 pubs, included 30 pubs bought from Hertfordshire group McMullen’s as well as a raft of smaller deals.

Mr Spencer said the group’s acquisition strategy is “gathering pace”, helping to strengthen the company’s position in the market.

Punch said it has a “robust pipeline” of further pub acquisitions and has completed on, exchanged or agreed to buy 12 pubs for a total of £12.8 million since the end of the previous financial year in August.

Bosses added that trading was “strong” in the eight weeks to October 4, with underlying earnings up 13% year on year.

Mr Spencer said: “This has been another year of strong performance for Punch, which is a testament to our brilliant teams, the fantastic publicans we work in partnership with, and our clear, disciplined strategy that continues to deliver results.

“Despite ongoing economic pressures across the sector, we enter the new financial year with real confidence.

“We are ahead of the ambitions we set out in 2025, have built a scalable, data-informed business capable of acquiring, enhancing and operating great community pubs, driven by outstanding publicans; and with around 1,300 pubs in a market of approximately 45,000, we see a significant runway for future growth.”