The Peach Pub Company has reported a 6% rise in turnover to £19,305,853 in the year to 30 December 2012. Group Ebitda was £1,540,552 compared to £1,712,893 the year before. The rise in sales was a result of full year operations in two pubs and a part contribution from the Star and Garter in Leamington Spa. Profit before tax was £375,128 compared to £621,880 the year before.
The company stated: “This was a difficult trading period industry-wide as we experienced economic recession coupled with the wettest summer on record. In January 2013, we finalised a restructuring of our loans from NatWest which has the effect of raising another £600,000 of funding - Nat West remains committed to supporting the growth of Peach”. Profit-related pay and dividend for the directors totalled £130,609, compared to £265,073 the year before. '
“We aim for steady further growth based on our existing principles, sharing the fruits of our labour with our key operators and retaining sufficient profits to grow and develop our business with the support of our banking and equity partners. Our medium term goal remains Peach 22 – 22 great pubs with shared ownership and with six to eight great partners around our Peach table.”