Urban Pubs & Bars has 'healthy pipeline' of new sites after record profits
Urban Pubs & Bars has 'healthy pipeline' of new sites after record profits
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Urban Pubs & Bars is looking forward to a bright future with a "healthy pipeline" of potential new venues, aiming to keep up the strong momentum into 2025. The London-centric hospitality group has been celebrating a particularly successful festive season in the capital and robust sales from its newly acquired pubs. Company chiefs are raising their glasses to recent trading achievements as they announced record profits and revenues for the latest financial year. T.
he premium hospitality business, which operates 53 pubs, bars, and restaurants, saw a 16% increase in turnover to £60.5m for the year ending April 2024, with like-for-like sales climbing by 4%. The company revealed that like-for-like sales have continued to pick up pace as it advances its growth strategy. Chris Hill, the managing director of Urban Pubs & Bars, said:: "We blew the doors off over Christmas. We saw 16% like-for-like growth year-on-year, against what we had thought was a strong performance a year earlier. We are really happy with how we are trading at the minute, particularly given the current environment.".
Mr Hill said that the group's focus on a London-based clientele has paid off, as this demographic has shown resilience despite economic pressures affecting household budgets. He also credited the group's success to investments in their establishments and the strategic acquisition of new sites.
