Admiral Taverns reports huge growth in profits

Wet-led tenanted pub group, Admiral Taverns has reported absolute growth in turnover , operating profit and EBITDA for the first time in eight years.

In the year to 30 May2015, Admiral Taverns saw a 2.2% rise in turnover to £78.4m, a 5.3% rise in underlying EBITDA to £24.9m and operating profit grew sharply, up 82.4% to £24.9m.

Kevin Georgel, chief executive of Admiral Taverns, commented, “The last six years marks a transformational period for Admiral Taverns. Following a restructuring of the businesses in 2009, the group’s management team was strengthened and a new strategy outlined to develop and maintain a sustainable, well invested estate of freehold pubs at the heart of their local communities.”

He added, “Our strategy has remained unapologetically consistent and, despite the challenges presented to the industry by impending government legislation, we remain passionately committed to being the best operator of wet-led community pubs in the sector.”