27th Jun 2014 15:35
LONDON (Alliance News) - Devo-based pub operator Heavitree Brewery PLC Friday reported higher profits and revenues for the first-half of the year.
The company reported a pretax profit of GBP592,000 for the six months ended April 30, compared with a GBP398,000 profit a year earlier, boosted by higher revenues and a GBP129,000 profit from the sale of four flats on the old St Loye's Pub site in Exeter.
"This is despite the loss of rental income from two closed pubs which are waiting to be refurbished," the company said.
"We have accepted offers on the Artichoke Inn at Christow and The Vestry at Newton Abbot... I am looking forward to another steady performance in the second half of the year," said Chairman N Tucker in a statement.
Revenues in the six month period increased slightly to GBP3.30 million, up from GBP3.27 million the prior year.
Heavitree Brewery shares were down 3.1% at 315.00 pence before the market close Friday.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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