Punch profits: that's the way to do it

May 7, 2005: Pub operator Punch Taverns plc saw profit before tax rise 39 per cent to £103m in the 28 weeks ending March 5, interim results show.

Pre-tax profits were £99m, up from £78m for the same period in 2004.

“The group has had an excellent first half and these results are testament to continued underlying organic growth in sales and profit across the estate, together with a strong performance from both the Pubmaster and InnSpired acquisitions," said chief executive Giles Thorley.

The company remains confident of doing well in a "more challenging consumer market" and is investing £26m in its estate.