The 40-strong pubco, The Oakman Group has just announced its full year figures for YE 3rd July 2002, as well as revealing commencement of work on two new sites in Ludlow and Gerrards Cross.
Headline figures are:
• Sales up versus prior year by 61% to £54.4m
• Sales versus pre-Covid 2018/19
• Total sales up 55.4%
• LFL sales up 19.9%
• Company sales outperformed the competitor set by 13% during the year (per Coffer Peach)
• Adjusted EBITDA up 49.2% to £5.4m
Director Dermot King (pictured left with CEO Peter Borg-Neal) commented, “As the country emerged from restrictions due to the coronavirus pandemic, the business began the year strongly, supported by the Government extension of a temporary VAT reduction and business rates forgiveness.
'During the year the number of sites operated by the Group increased from 35 to 38. The three new sites are: The Rose Inn, Wokingham, The Grand Junction, Buckingham and The Hesketh Arms, Ruffold. The number of ‘pipeline’ sites increased to five.'
Dermot continued, “The key Christmas trading period was severely hampered by the prevalence of the Omicron version of the Coronavirus and what effectively became a pre-Christmas lockdown.
'As Government support measures ended from early 2022, the industry suffered generally from a shortage of workers, and although we were perhaps less affected than others, we limited opening hours and trading capacity.”