Trust Inns FY profits hit £5.6m
The results show that the group’s pre-tax profits increased by £14.7m from the loss of £9.1m in the prior year following the UK government lifting Covid-19 related restrictions
The northwestern pub operator, Trust Inns, has announced that the group’s pre-tax profits hit £5.6m in the year to 31 March 2022, compared to a loss of £8.5m the year before.
The results show that the group’s pre-tax profits increased by £14.7m from the loss of £9.1m in the prior year following the UK government lifting Covid-19 related restrictions.
It is also reported that the company refinanced with Barclays Banks for a five year term on “more favourable terms”, allowing a continuation of the company’s acquisition-based growth strategy. The company is also said to have made no dividend payments in the year.
Trust Inns Limited is said to “look forward” to an excellent year of growth in 2022 and beyond through its ongoing acquisition programme and development of its existing estate through capital investment.
Mark Brown, managing director at the Trust Inns, said: “Whilst the lifting of government restrictions has enabled the company to return to profit there remains significant challenges to our industry, particularly the cost of living and energy crisis we currently work through.
“The company is well placed to deal with these challenges whilst continuing to support our tenants.”