Admiral Taverns has announced a rise in profits to £111.8m in the 52 weeks to 26th May, 2024. Turnover rose from £182m to £194.5m.
The Blue Ball, Newbury, part of the Admiral Taverns estate
The business reported strong trading across its 1,400-plus estate of pubs, with significant investment of £36.8m. There were proceeds of £24.7m from the sale of sites, which were reinvested in the estate.
“As we look to the future, we remain focused on driving further improvements to enhance our support offering, and will continue to look for opportunities to expand our community pub estate,” said Admiral Taverns chief executive Chris Jowsey.
“Post year end, with the continued support of our investors, Proprium Capital Partners, we were delighted to announce the acquisitions of pub portfolios from both Fuller, Smith & Turner and Marston’s, and we look forward to working together with our new licensees to grow these pubs as profitable small businesses and social hubs for their communities.
“Current trading is ahead of our expectations, demonstrating the strength and resilience of our business and estate, and the group remains well positioned to continue to deliver profitable group growth and sustained strategic progress.”
