Liberation Group has announced a strong summer of trading across the UK and the Channel Islands within its pubs, brewing and drinks businesses, including its highest ever single week of revenue during August.
Taking the period of 21st May to the 3rd September 2022 total LFL sales across the Managed Pub Division was +6.3% vs 2021 and +30.0% vs 2019. This sales growth has been driven by an encouraging performance on drinks, a robust performance on food (which was only slightly negative due to the variance in VAT rates YOY in the UK) and record sales in accommodation, demonstrating another strong summer of staycations and an encouraging recovery in business and international guests.
A strong performance in the UK has been added to by an encouraging recovery in Guernsey and Jersey, benefitting from strong tourist demand and a gradual return to office working in St Helier, Jersey.
Jonathan Lawson (pictured), CEO, explains: “Our tenanted partners have come out of the pandemic in a strong position, due to our continued support over the last few years, the quality of the assets and the hard work and commitment of our partners and their teams. As a result, we have seen an encouraging performance which has benefited, in part, from some targeted investment to drive volumes and with some strategic divestments, we are continuing to build a quality tenanted business with a high average EBITDA per pub.”
Liberation Group’s Guernsey and Jersey drinks businesses have performed robustly within a mature market and have demonstrated the value of a diverse group and blend of channels which includes Free Trade, Off Trade and Retail.
Jonathan adds: “We have been pleased to see margins maintained providing strong cash generation for the Group. The partnership with Diageo, agreed in July 2021, has provided us with incremental sales opportunities in both the on and off trade and with a long-term sales growth opportunity.
“Despite the obvious headwinds for our customers and ourselves, we are confident in our ability to deliver a fantastic Christmas for our customers, and ongoing investment into our business is testimony to the belief in our teams and in the potential for our business over the next few years.”
