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Eldridge Pope issues upbeat trading statement
Eldridge Pope has recorded a rise in pre-tax profits to £852,000 for the six months to March 31, against £810,000 previously. The interim dividend is 2.76p. Of the total business, turnover was up by 21.1 per cent and for ongoing business like for like sales were up by 4.7 per cent, with turnover up by 29.5 percent. Chair, Christopher Poe said the company's focus on large high yield pubs, backed by well-motivated retail skills has resulted in continued improvements in operating margin, average pub size, like-for-like sales and profit: I am confident we have the strategy and depth of management skills to sustain the growth trajectory we have now established. Peter Phillipson, chief executive, said an important part of the company's strategy has been the disposal during the half year of 30 sub-scale pubs and the integration of the 23 large units acquired last year.