Good trading helps Punch cut net debt

first_imgTuesday 24 August 2010 7:33 pm More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgWhy people are finding dryer sheets in their mailboxesnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comMark Eaton, former NBA All-Star, dead at‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest Share whatsapp KCS-content Tags: NULL Good trading helps Punch cut net debt center_img whatsapp Show Comments ▼ Punch Taverns, the country’s largest pubs group, said yesterday it expected full-year earnings to be slightly ahead of its previous expectations – reflecting a pub improvement programme, a good World Cup and sunny summer weather.The company, which runs more than 7,100 pubs, said sales at pubs it directly manages, which have been open for more than a year, rose by 2.6 per cent in the fourth quarter to the end of August.But Punch added in a trading update that profit falls at the pubs it leases to tenants are expected to be broadly in line with the first half of the year, because a rise in sales was offset by lower margin on drinks sales and reduced rental income.Over the past year the pub chain sold off £300m worth of pubs and reduced its net debt by almost £700m? to £3.1bn.The business also said it had refurbished more than 200 managed pubs over the past year. Punch said: “We expect the trading outlook in the near term to continue to be uncertain, particularly given the potential impact of the June budget on consumer spending into next year.”The news comes as former finance director of Marks & Spencer Ian Dyson joins the company next month as chief executive. He takes over from Giles Thorley who left the heavily indebted firm in March. Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldUndoBetterBe20 Stunning Female AthletesBetterBeUndoCrowdy FanShe Didn’t Know Why Everyone Was Staring At Her Hilarious T-ShirtCrowdy FanUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndoAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoElite HeraldKate Middleton Dropped An Unexpected Baby BombshellElite HeraldUndolast_img