London-based Urban Pubs & Bars posted sales up by 4% in 2024 with, like its listed rivals, a big kicker from its performance in the run-up to Christmas.
Acquisitions boosted the total to 16% in 2024 compared to a year earlier, with managing director Chris Hil saying that its London clientele has proved to be resilient customers despite squeezed incomes.
“We are really happy with how we are trading at the minute, particularly given the current environment.”
Since April last year, the privately-owned group acquired 10 extra pubs when Antic went into administration.
Three new openings for 2025, including The George & Dragon in Wanstead, The London Fields in Hackney, and a new site in Covent Garden for its Bat and Ball concept.
The group recently increased its lending facility with Barclays to £30 million to help fund more purchases.
Drinkers, meanwhile, have now warned that next month will see big rises in the price of wine and spirits as new rates of duty come into force.
From 1st February an inflation-linked 3.6% increase in duties kicks in alongside a new system taxing wine by strength.
As a result, the duty on a bottle of gin will go up by 32p, and for stronger wine, with 14.5% abv, it will rise by 54p.
Wine and Spirit Trade Association boss Miles Beale said: “There are no winners under the UK’s punishing alcohol tax regime – higher duty rates mean people buy less which results in reduced income to the Exchequer, businesses are being squeezed and consumers have to pay more.”