Punch Taverns plc

Punch Taverns plc

Punch Taverns plc

Company Introduction

Punch Taverns is a pub operator based in the United Kingdom. Co. is engaged in the operation of public houses under either the leased model or as directly managed by Co. The leased model involves the granting of leases to tenants who operate the pub as their own business, paying rent to Co., purchasing beer and other drinks from Co. and entering into profit sharing arrangements for income from leisure machines. Pubs that are directly managed involve the employment of a manager to operate each managed pub and Co. receives all revenues generated by the pub and is responsible for costs. The key executives include Phil Dutton who is the Financial Director, Karen Caddick and Neil Griffiths who are the Director and Peter Cawdron is the Chairman of the Punch Taverns plc.

Punch Taverns is one of the leading pub companies in the UK with a core estate of 6,500 leased and managed pubs. The nationwide estate has grown by selective acquisition and disposal of mostly freehold properties, selected for the sustainable cash generative quality, and financed using long term investment grade debt at fixed interest rates.

Punch Taverns plc constantly works to advance the quality of each of the pubs and it offered in all the different segments of the consumer market. Mitchell (2001, p. 14) states that this process will be achieved through the pub operators which are high in quality and have gone through the proper recruitment process, their support and training, capital investment to build up their full potential of every outlet and the development of superior supply agreements to maximize the income. Indebted UK Pubs group Punch Taverns plc has seen un-invested pub sales in its Spirit division grow by 3.5% in 12 weeks to 28 May 2011, a statement released today shows. The food sales rose by 8.4 % and drinks by 7.3 %. The pubs group said that favorable weather has undoubtedly helped trading. With more than £ 2 billion in debt Punch Taverns announced in March that it was splitting its business into two, "Punch" and "Spirit". The demerger, expected to be completed by the end of the summer, is continuing to make satisfactory progress.

According to the Chief Executive Officer of Punch Taverns plc, Ian Dyson, "Our operational initiatives continue to translate into improved performance for both Spirit and Punch. Jurek (2004, p. 24) states that this has been achieved during a period of substantial change as we prepare for the proposed demerger of Spirit. Despite the challenging UK consumer environment, we are on track to meet our full year expectations." The statement shows that previously announced Finance Director Designate for Spirit, Roddy Murray, has decided not to take up the role. Russell Margerrison, who is currently Group Business Planning Director, will assume the role of Interim Finance Director of Spirit instead. In addition to this, the main competitors of Punch Taverns plc are Whitbread PLC, Compass Roadside ...