The boss of Metropolis Pub Group has referred to as on the Authorities to handle enterprise charges and supply longer work visas to help trade labour shortages.
It got here because the London-based pub operator noticed shares soar on the again of a surge in gross sales over the primary half of the yr after the easing of pandemic curbs.
Metropolis Pub Group, which runs 40 pubs, revealed that revenues swelled to £26.1 million for the six months to June 26, in contrast with £8.9 million over the identical interval final yr after being hampered by the pandemic.
The corporate swung to an adjusted pre-tax revenue of £1.3 million, in contrast with a £2 million pre-tax loss a yr earlier.
The corporate added that buying and selling for the reason that finish of June has “remained optimistic”.
The agency anticipated buying and selling to “stay resilient” for the remainder of the yr after the Authorities introduced it should freeze the power value cap for homeowners.
Metropolis Pub Group’s replace got here because the Authorities introduced that it'll additionally decide up practically half of corporations’ hovering power payments for at the very least six months from October.
Clive Watson, chairman of Metropolis Pub Group, stated the corporate has bolstered its funds over the previous yr however is eager for additional help from the Authorities when it proclaims a brand new package deal on Friday.
He stated: “The disposal of six pubs in April for £17 million has put the corporate in a good stronger place with very low web debt and what we consider is amongst the bottom gearing within the sector. Nevertheless we proceed to induce the Authorities to do extra for hospitality, significantly on enterprise charges and offering two to three-year visas to alleviate the labour shortages.
“Metropolis Pub Group is a dynamic enterprise which advantages from having a beautiful property of high-quality freehold pubs.
“From our place of energy, we'll undertake an entrepreneurial method to retailing and embrace expertise.
“We are going to proceed to run our present enterprise ever extra effectively, our present focus, earlier than turning our consideration to constructing the corporate by acquisition when the time is true.”
Shares rose by 5.6% to 56.5p in early buying and selling.