Exeter-based pub company Heavitree Brewery saw pre-tax profit rise 138.17% to £1,329,00 in the six months to April 30. This did include profit from the sale of four properties, which generated £830,000.

Heavitree BreweryTwo unlicensed properties in Exeter and another in the South Hams area of Devon are being marketed for sale.  One of the Exeter properties is sold, subject to contract.

The company said: “The sales of The King of Prussia [Bovey Tracey], The King’s Arms [Strete] and The Crown and Sceptre [Newton St Cyres], all of which had been closed for some time and had been incurring various consequential costs, will have a positive effect for the Group in terms of revenue. The proceeds from the sales have also reduced our level of debt, which the board considers to be a prudent goal in these uncertain times.

“Trading has remained ahead of budget at the end of the first half of the year. The trading effect of the FIFA World Cup looks promising and, together with the prolonged period of favourable weather which our region is currently enjoying, we believe that the company is well placed going into the second half of the year.”