Belfast Telegraph

Pubs owner hit by slump of 20%

One of the UK's largest pub owners revealed a 20% drop in profits as the consumer spending slump continues to squeeze the business.

Punch Taverns, which has some 4,800 leased pubs, saw profits in the 28 weeks to March 3 fall by £8m to £33m as like-for-like net income in its core estate dipped 2.1%.