(Adds CEO and analyst comments, share movement)
By Karen Rebelo
June 10 Spirit Pub Company Plc, the
owner of Flaming Grill pubs, reported a rise in quarterly
comparable sales as it benefited from sunnier weather during the
Shares in the company, which also owns chains such Chef &
Brewer, Fayre & Square and Taylor Walker, rose as much as 4
percent to 81 pence in early trade on the London Stock Exchange
The company said comparable net sales rose 6 percent during
the 12 weeks to May 24 at its managed pubs.
"In March (last year) there was a lot of snow...and that
particularly hurt the drink sales because people won't just walk
down to their local pub for a drink because it's just too
difficult," Chief Executive Mike Tye told Reuters.
Like-for-like drink sales at its managed pubs jumped 7.1
percent while food sales rose 4.8 percent, the company said.
Managed pubs account for about three quarters of Spirit Pub's
"Whilst Q3 was always going to look good against a soft
comparative, the progress at Spirit continues to impress," Peel
Hunt analyst Nick Batram wrote in a note.
Spirit Pub's CEO declined to quantify any gain from the
soccer World Cup that begins on Thursday but said he hoped it
would be positive for the company.
Britain's restaurants and pubs are anticipating better sales
this summer, helped by the government's extension of licensing
hours during the tournament allowing fans to spend more time at
their local watering holes.
"I'm certain that the three group stage games that England
are playing will create fantastic excitement, will have great
sales over that period. (But) I'm hoping we'll have great sales
over the whole of the World Cup," CEO Tye said.
"I expect Brazil to win but I hope England will win".
Shares in the company, which was spun off from Punch Taverns
Plc in 2011, were up about 2 percent at 79.50 pence at
0935 GMT on the London Stock Exchange on Tuesday.
(Reporting by Karen Rebelo and Aastha Agnihotri in Bangalore;
Editing by Sunil Nair and Gopakumar Warrier)