Spirit Pub cheers rise in first-half profits

Spirit Pub Company today said shareholders were in line for a 6 per cent rise in their dividend after it reported an 11 per cent jump in interim profits.

The firm, which operates pubs under brands such as Chef & Brewer and John Barras, posted a pre-tax profit of £22 million for the 28 weeks to 1 March, up from £20m a year earlier, on revenues 3.8 per cent higher at £406m.

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Chief executive Mike Tye said: “We remain cautious, but are starting to see tentative signs of recovery in consumer spending, from which we should be well placed to benefit.”

Shareholders will receive an interim dividend of 0.72p a share on 3 June, up from 0.68p last time.