January 13, 2020 / 8:00 AM / 14 days ago

City Pub Group sees annual earnings below market view

Jan 13 (Reuters) - City Pub Group Plc said on Monday it expects annual adjusted core earnings to be slightly below market view, as its holiday period sales were hit by political uncertainty in Britain until the December elections and lacklustre Rugby World Cup.

The City Pub Group, the owner and operator of 47 pubs across Southern England and Wales, said it expects 2019 adjusted earnings before interest, tax, depreciation and amortization, before exceptional items to be between 9.1 million pounds and 9.2 million pounds ($11.83 million-$11.96 million), still 15% ahead of the prior year.

“Political uncertainty culminating in the December Election held back sales until the result was known and unhelpful weather during November and December dampened trading further,” the company said in a statement. ($1 = 0.7689 pounds) (Reporting by Rishika Chatterjee in Bengaluru; Editing by Shailesh Kuber)

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