Today’s news in brief – 09/07/24

Loungers has achieved a record revenue growth of 24.7% to £353.5m in FY24, after opening 36 new sites during the year – seven more than in the prior year. The operator of Lounge, Cosy Club and Brightside has attributed its performance to a combination of decreasing inflationary pressures and its increasing scale post-pandemic.

Marston’s has sold its 40% interest in Carlsberg Marston’s Limited for £206m to a subsidiary of Carlsberg to focus on creating a business entirely focused on pubs. According to Marston’s, pubs are “at the heart of UK socialising and the UK pub market offers significant opportunities to capitalise on and drive value for shareholders”. 

Drinks sales in managed venues rose 6% in the week to 29 June, as it coincided with England’s final group game at the European Championship against Slovenia. The game on 25 June saw sales rise 71% compared with the same day last year. However, trading was negative on 27, 28 and 29 June as consumers saved money for warmer weather.

West Country publicans, Tom Noest and Peter Creed, will open a new venue in Cheltenham on 26 July. Bringing their portfolio up to five venues, The Tivoli marks the first foray into a “slightly more urban domain”, with the new venue opening in the heart of the regency Spa town on Andover Road.