PUNCH Taverns, Scotland's biggest landlord, is seeking to improve the food offering in its pubs and provide more cask ales as its estate north of the Border undergoes dramatic change.
UK-wide, Punch, whose pubs are run by tenants, saw full-year pre-tax profit fall one-sixth to £76 million, although this was ahead of a forecast of £72.6m from City analysts.
Meanwhile Spirit, the managed pubs business that was demerged from Punch earlier this year, reported a better than expected 17% rise in earnings to £48m.
The split saw 45 of Punch’s Scottish pubs depart with Spirit. Of the remainder 172 pubs remain in Punch’s core estate. Another 140 are classed as “turnaround”, which means they are likely to be sold over the next five years as the debt-laden company focuses on its most successful outlets.
Elaine Kennedy, regional operations manager for Scotland for Punch, whose outlets include Dirty Dicks in Edinburgh’s Rose Street and Ensign Ewart in the capital’s Lawnmarket, said: “We are working a bit more with the tenant in understanding that the wet-led pub is no longer sufficient to serve local communities any more.
“People want food, they want entertainment and to watch some sports.”
She cited a £250,000 investment in the Copper Top in Falkirk which prompted a 70% rise in trade.
Ms Kennedy said more pubs are offering cask ale as it improves in popularity.
She said: “Scotland has a number of smaller breweries. Cask ale provides a point of difference with the supermarkets.
“Previously cask ale was on a downward spiral. People now seem to want something different.”
Spirit said Ian Dyson, its chief executive who oversaw the demerger of Punch after joining from Marks & Spencer last year, will step down at the annual shareholders meeting on December 16 and be succeeded by his deputy, Mike Tye.
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