Tied and emotional
It’s been a good week for the big pubcos. The government decided not to legislate on the tie – even though it agreed with the parliamentary committee inquiry that Punch and Enterprise haven’t pulled their fingers out far enough in making their relationship with tenants fair.
Instead, codes of practice are to be toughened up and a couple of quangos organised to help the regulation process. The pubcos jumped for joy, but others were angry.
What does it all mean? Not a lot.
London’s earning
Those old London rivals Young’s and Fuller’s posted strong results. Young’s revenue for the half-year was up by a third, boosted by the acquisition of the Geronimo pubs at the end of 2010. Fuller’s reported a 3.9% like-for-like rise in take at its managed pubs – and even its tenancies were up.
Meanwhile, Greene King made clear its intentions for the capital, announcing plans to add seven houses to the Real Pubs estate it bought earlier this year – and take the concept beyond the M25.
Rock solid performance
Nottingham’s Castle Rock Brewery scooped the title of Overall Winner in the annual SIBA Awards for small independent brewers. It also picked up the Marketing award, while Palmers Brewery in Dorset was overall runner-up.
SIBA also chose the day to launch a new keg repatriation scheme – making sure casks find their way back from pub cellars to the brewer they belong to. It’s a perennial problem for the industry.
Spin-dried
The media were full, again, of tales of boozed up Britain, based on a report by BUPA, the private healthcare company. Strangely, though, the report itself didn’t mention it. The stories were PR spin.
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