THE pub company that owns Brakspear has increased its profits.
J T Davies & Sons reported a five per cent rise in turnover to £15.3 million in the year ending December 31, helping to increase operating profit by 14 per cent to £4.1 million.
Pre-tax profits, which benefited from the sale of two pubs, grew to £2.6 million.
The company said the figures reflected improved performance across the Brakspear estate due to significant investment in pub refurbishments, including the former White Hart at Shiplake, now Orwells, which now has 19 letting rooms.
The company said it had bolstered its support for tenants through a new mystery customer scheme, enhanced support from business development managers and from the marketing and finance functions at head office.
Savings achieved by streamlining of Brakspear management and head office functions were reinvested in pub improvements and the purchase of the new sites.
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 in partnership 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.”
Brakspear has taken over the Star & Eagle in Goudhurst, Kent, a pub restaurant with letting rooms, and the William Bray, a bar and restaurant in Shere, Surrey.
The two pubs sold were the Ashgrove in north-east London and the Inn on the Green in Chichester.