Independent wet-led pub operator Amber Taverns has seen sales rise above £43m after a 17.5% rise in the year to 1 February 2015.
Company Ebitda climbed 20% to £9.1m and pre-tax profits rose by 16% to £5.3m over the same period.
Directors said returns from the company's recent acquisitions have exceeded targets and the business continues to consider further additions to its stable. Within the year the company strengthened its portfolio by acquiring 10 new sites and only disposed of one. At the start of 2015 the company went on to acquire several more sites which will show in its 2015/2016 report.
Amber Taverns stated: “Eight of the new sites were trading at 1 February 2015. The estate then consisted of 100 trading freehold pubs with a further two sites being refurbished. Following the year-end, the acquisition of six further units has been completed which are due to open between May and August. This will take the estate to 108 units.”
In its report accompanying the accounts, the directors said: “The company has continued to acquire some closed public houses in good locations at competitive prices, but has seen an increasing number of acquisitions of sites in good locations which are trading. During the year, both have proven to be successful acquisition strategies with returns exceeding target and the company intends to continue to consider acquisitions on a site-by-site basis.”