The All Bar One and Toby Carvery owner, which is based in Birmingham, also told investors that like-for-like sales have increased by 6.5 per cent since the end of its latest financial year in late September.
It highlighted cost inflation as a particularly significant challenge, warning that it expects its roughly £1.8 billion cost base to increase by between 10 per cent and 12 per cent before efforts to mitigate this. Earlier this week, the British Beer and Pub Association said pubs across the country could shut without clarity soon over what will happen to energy costs after scheme’s current finish date at the end of March.
Meanwhile, revenues more than doubled to £2.2 billion following the relaxation of Covid-19 restrictions.
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