UK pubs operator Daniel Thwaites' H1 revenue rises on good weather and football World Cup

Overview

• UK pubs and hotels operator's H1 revenue rose 4% yr/yr to £69.3 mln

• Earnings per share for H1 increased 25% yr/yr to 14.1p

• Company bought back 640,000 shares at 93.0p each during the period

Outlook

• Company expresses caution about outlook for rest of yr amid economic uncertainty

• Company says elevated energy prices and high inflation may impact investment costs

• Company calls for government action to address structural cost increases in hospitality sector

Result Drivers

• WEATHER AND WORLD CUP - Co said good weather and the football World Cup boosted trade in pubs and inns

• PROPERTY DISPOSALS - Operating profit increase partly due to profit on disposal of a development site

• COST CONTROL AND REFURBISHMENTS - Inns and hotels benefited from recent refurbishments and focus on cost control, supporting profit growth

Company press release:

Key Details

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)