Pubs ‘n’ Bars issues profits warning

Written by Claire Weekes
Monday, 22 September 2008
Community pubs group Pubs ‘n' Bars has issued a profits warning following a 17% drop in shares. The group, which owns 110 pubs mainly across the south of England, has blamed a drop in consumer spending in the on-trade and continued cut-price deals in supermarkets on a "negative effect on current trading". The group said in a statement that profits would not meet expectations for the year end December 31 2008. In the statement, it said: "The current economic environment contributing to reduced consumer spending and exacerbated by cut price alcohol supermarket sales has had a negative effect on current trading. "In addition, increased finance costs and higher operating costs, has led the directors to believe that profit before tax will be below current market expectations." Related Articles 11 Sep 2008 - CAMRA calls for Government action to save pubs 28 Jul 2008 - Pubs feel the heat as beer sales drop Share This Email This Comments (0) Show/Hide comments Write comment Show/Hide comment form Name Email Comment smaller \| bigger Subscribe via email (Registered users only) I have read and agree to the Terms of Usage. Write the displayed characters