Today’s news in brief – 12/05/25
Punch Pubs has seen its revenues rise by 1.9% to £168.3m in Q2 ended 23 February. The group attributed its growth to inflationary price increases and trade enhancing capex investment in its estate, as well as maturing profits from pubs converted from L&T to MP. Meanwhile, the group has optimised its cost base following the implementation of the £5.1m cost saving plan identified in partnership with Deloitte. All three of the group’s divisions also delivered a 5.46% like-for-like underlying EBITDA growth to £61.8m.
Sadiq Khan has announced a new £300k Summer Streets fund to boost al fresco dining and extend opening hours for pubs, restaurants and venues this summer. The fund will be delivered in partnership with councils across the city to support restaurants, cafes, small nightlife venues, pubs, late opening and businesses, including live music and LGBTQ+ venues. Councils can apply for a share of the £300k fund to work closely with venues to create new outdoor eating and drinking hubs or extend existing areas.
Marston’s has partnered with Two Blues Solar and Nuvolt to deploy solar across 120 pubs over the next 12 months. The £5.4m initiative, which has been fully financed by Atrato Onsite Energy, guarantees certainty of energy prices for 25 years, protecting Marston’s from market volatility whilst delivering immediate cost savings for the pub group. The rollout will reduce Marston’s carbon emissions by 600 tonnes in the first year, equivalent to removing 430 cars from the road. The partners expect to complete this initial rollout of 120 pubs by Q2 2026.
New restaurant Beef and Bass will be opening its first 4,512 sq ft site in London’s King’s Road, specialising in premium cuts of beef and wild sea bass. Upon arrival, guests will be welcomed into an “intimate” 14-cover speakeasy bar. The main restaurant will feature an open kitchen and a charcoal grill, as well as a private dining room, where chefs will prepare signature dishes over live fire. Diners can choose between selected cuts of beef or wild sea bass, complemented by a curated selection of house specialities.