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Punch Taverns reports drop in profits
By Pete Hayman
Punch Taverns has reported pre-tax profits of £61m for the 28 weeks ending 5 March 2011 - down from £66m for the same period last year.
The pub group has welcomed improvements to its underlying financial performance for the period and indicated that it had made "good progress" on plans to de-merge the business. Punch Taverns chief executive officer Ian Dyson said: "Despite the challenging UK consumer environment, we remain confident of making further progress in the second half of the financial year."
Punch Taverns has reported pre-tax profits of £61m for the 28 weeks ending 5 March 2011 - down from £66m for the same period last year.
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