By Marcus Leach
Less than two months after announcing they would be splitting into two separate companies UK pubs group Punch Taverns have announced a sharp increase in sales.
Punch Taverns had announced they would split their managed and leased pub operations into two separate public companies.
However, in their latest figures, Punch show a rise in sales in their managed pubs with like-for-like sales growing by 7.3% in the 12 weeks to May 28th.
Punch attribute the rise in sales to the recent hot weather, as well as their refurbishment programme. Food sales on the managed side of the business were also up, increasing by 8.4%.
Average net income per pub at its leased pubs business rose 1.3%.
Punch said they are on track to meet the full-year profit predictions, with the demerger expected to be completed by the end of the British summer.
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