Turnover and operating profit have dropped slightly at Exeter brewery
Heavitree, but its management team have hailed the company's "solid"
performance.
According to insidermedia (2012) turnover for the group decreased by £36,000 (0.49 per cent) to £7.3m in the year ending 31 December 2011.
The business, which manages more than 80 pubs across Devon and
Exeter, generated an operating profit of £1.4m, a drop on the
£1.42m secured in 2010 (insidermedia 2012)
Over the past year, Heavitree it made several key capital
investments. Its Alphington site, The New Inn, was given a major
refurbishment, while four other pubs were given minor facelifts.
The company renewed its banking facilities with Barclays just after
the end of the year under review. Heavitree said the finance agreement
left it "well positioned should there be a change in the economic
climate".
According to a statement from Nicholas Tucker (2010). "The headline figures may appear to be somewhat flat against the
previous year but, given the uncertainty of the European and National
economic situations, I consider this to be a solid performance; and I am
most grateful for the hard work of our head office team and the staff
of the pubs themselves in achieving these results.".