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"Encouraging recovery in Guernsey"

Friday 16 September 2022

"Encouraging recovery in Guernsey"

Friday 16 September 2022

The Liberation Group is reporting "a strong summer of trading" across the Channel Islands and the UK, which it said included its "highest ever single week of revenue during August.

The company said the strong performance nationally was "added to by an encouraging recovery in Guernsey and Jersey, benefitting from strong tourist demand and a gradual return to office working...".

With a number of tenanted pubs across the islands, the Liberation Group CEO Jonathan Lawson said they have "come out of the pandemic in a strong position, due to our continued support over the last few years, the quality of the assets and the hard work and commitment of our partners and their teams.

"As a result, we have seen an encouraging performance which has benefited, in part, from some targeted investment to drive volumes and with some strategic divestments, we are continuing to build a quality tenanted business with a high average EBITDA per pub."

Mr Lawson said the firm's Guernsey and Jersey drinks businesses are said to have performed robustly "within a mature market and once again have demonstrated the value of a diverse group and blend of channels which includes Free Trade, Off Trade and Retail and we have been pleased to see margins maintained providing strong cash generation for the Group".

Acknowledging the current economic climate, Mr Lawson said: "We have not been immune to some of the inflation pressures that others have seen within the sector, but believe we are better placed and prepared to manage, mitigate and avoid where possible and balance the need to deliver value for money to our customers whilst also protecting our P&L."

Pictured: Jonathan Lawson, CEO Liberation Group.


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