J T Davies & Sons, Brakspear’s parent company, reported a 5% uplift in turnover to £15.3 million in the year ending 31 December 2011, helping operating profit increase 14% to £4.1m. Pre-tax profits grew to £2.6m.
The figures reflect improved performance across the Brakspear estate, thanks to significant investment in pub refurbishments and in bolstering support for tenants through a new mystery customer scheme and enhanced support from BDMs and from the marketing and finance functions at head office.
Savings achieved through a streamlining of Brakspear’s management and head office functions were reinvested into pub improvements, and into the purchase of the new sites.
Acquisitions continue
Brakspear’s acquisition programme continues with the purchase of a further two pubs. The new additions take the number of pubs acquired over the summer to five and the total Brakspear estate up to 146.
The new sites are: the Star & Eagle in Goudhurst, Kent, a pub restaurant with letting rooms, and the William Bray, a contemporary bar and restaurant in the picturesque village of Shere, Surrey.
Chief executive Tom Davies said, “2011 was a year of laying foundations for the growth that we are pushing forward this year. We believe we already have the best tenanted–only estate in the business and now we are bringing more great pubs with talented retailers into it through our acquisition programme.
“We’re looking forward to working with our new business partners and to strengthening the support we offer to them and to our existing estate, to ensure that all pubs trading under the Brakspear name deliver healthy returns to everyone involved.”