28th Nov 2022 12:54
(Alliance News) - Barkby Group PLC on Monday said Christmas bookings are strong for its pub chain, while its property arm is moving along its projects.
Barkby is an Abingdon, England-headquartered company with businesses in real estate, consumer & hospitality & life sciences.
Regarding its real estate business, Barkby said the Wellingborough development's total contracted rent is GBP234,000 per year, with tenants including bakery chain Greggs PLC. Barkby expects a decision on its 27,000 square foot scheme in Swindon in the first quarter of 2023. For its project in Maldon, it anticipates construction to complete by April.
Barby's re-financing of its Tarncourt facility has been expanded to GBP10 million from GBP5 million and extended by a year to June 30, 2024.
At Barkby Pub Co, first quarter revenue for the three months to early October was down 3% on a year prior, blaming a decrease in UK household spending.
Looking ahead, Barkby said Christmas bookings look strong at the pubs.
Regarding energy costs, a majority of the pub chain's energy contracts were fixed in December 2020 until December 2023, providing protection from the price increases that are hurting the wider UK pub sector.
The company expects to release its results for the financial year that ended July 2 in December.
Barkby shares were down 5.0% to 9.50 pence each in London on Monday afternoon.
By Tom Budszus; [email protected]
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