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Speaking to The Morning Advertiser ( MA) after the release of City Pub Group’s 2020 financial results statement – which saw pandemic restrictions hit its revenue to the tune of £34.2m in the 52 weeks ended 27 December 2020 – executive chairman Clive Watson described the confirmation of indoor pub reopening on 17 May as a “relief” but “no great surprise”. “I think people in this country are on the whole very compliant, so I think it will give them confidence, now they know they can go indoors, to start heading back towards the pub,” Watson told The MA. “So, I think that s good news as well.” ....
Excellent position: the early signs since we have been allowed to trade outdoors have been very heartening, City Pub Group s Clive Watson said Despite pandemic restrictions hitting its revenue for £34.2m in the 52 weeks ended 27 December 2020, City Pub Group is in an ‘excellent position’ as the country reopens according to its executive chairman. According to its final results for 2020, the operator of a freehold estate of 45 wet-led pubs across London, southern England and Wales, recorded revenue of £25.8m – 57% less than the £60m figure from 2019 – due to “lengthy closure periods”. The operator – which recently acquired a 49% stake in the Kensington Park Hotel and increased shareholding in Mosaic Pub and Dining Group to 24% - also registered a £5.1m loss compared to a £5.3m profit in 2019. ....
City Pub Group eyes expansion after ‘encouraging’ outdoor reopening May 11, 2021, 12:59 pm City Pub Group has said it is optimistic after an encouraging reopening for outdoor trading (City Pub Group/PA) City Pub Group has said it hopes to more than double its estate to 100 pubs as its bosses struck an optimistic note despite the heavy toll of the coronavirus pandemic. The company, which owns 45 drink-focused pubs and four development sites, tumbled to a £5.1 million loss for the year to December after the impact of months of enforced closures. However, the group said it is still positive about the future and saw “encouraging” early sales after venues reopened beer gardens and outdoor areas a month ago. ....
The City Pub Group has said it is on the hunt for new premises to expand its business as a further easing of Covid restrictions looks set to push sales back to pre-pandemic levels over the summer. The owner of the Brighton Beach Club said current trading since reopening outdoors had been extremely encouraging, with 24 of its pubs currently open trading at 77 per cent of 2019 levels. Expecting business to boom, the group is currently assessing investment opportunities on a very selective basis as it looks to snap up struggling smaller pubs at cheap prices. Summer cheer: The group expects big sports events like the European 2021 football finals and the return of tennis at Wimbledon to boost sales over the summer ....