Wolsely operator reports turnover doubled: Rex Associates, the operator of Brasserie Zedel and The Wolseley, has reported turnover increased by 105% to £28,587,820 in the year to 31 March 2013, up from £13,913,750 the year before. The company made a loss before tax of £2,838,907 compared to a loss of £3,763,688 the year before. Group operating losses were £92,254 compared to £767,317 the year before. The company stated: “The year to 31 March 2013 was a transformational year for Restaurant Restaurants. In April 2012, new bank facilities and a £21.5m investment predominantly made by Graphite Capital, were secured. This allowed the group to continue expansion with the opening of Brasserie Zedel and Colbert, taking the number of new restaurants opened in the 12 months to October 2012 to three. The company’s flagship restaurant, The Wolseley, continued to grow strongly, increasing turnover 2% and operating profit 33% in the period.” The company also reported that turnover at the Delauney grew by 243% in the year. The year saw pre-opening costs of £923,152 in relation to Brasserie Zedel and Colbert. The company’s founders Chris Corbin and Jeremy King have each given a personal guarantee of £500,000 in respect of the company’s banking facilities.

Arkells reports dip in turnover and profit: Wiltshire-based brewers and retailer Arkells, which has 15 managed pubs and 84 tenanted sites, has reported turnover dipped to £18,407,000 in the year to 31 March 2013 from £18,490,000 the year before. Pre-tax profit was £1,881,000 compared to £2,260,000 the year before. The company stated: “Managed sales increased with wet sales up 5.2% and accommodation income up 17.8% but profits were lower than in 2012. Rents increased marginally but profits from free trade and commercial property declined. Capital repayments on a new 12-year loan will be £750,000 per annum.” Chairman James Arkell said: “I read that in America there were 1,300 applications this year to start up open micro-breweries. In the UK, we have the same prevalence of breweries. This is forever squeezing our market in the free trade. However, it has increased awareness of ales on the bar. It has been another challenging year for the economy and, in particular, in the sector we operate. All seemed well until Christmas, then someone turned the lights out and the weather worsened so the last quarter did the damage to our results. The company strategy is to trade up where possible in order for our tenants to make a fair living. As part of our assessment of managed and tenanted, we are constantly looking at opportunities for developments, disposals and acquisitions. Creating profitability for the long term survival of our pubs is paramount.” The company sold four pubs in the year, four of which went for redevelopment. 

Brakspear holds prices for tenants: Pub operator and brewer Brakspear is holding prices on all Brakspear ales supplied to its 129 pubs, sparing its tenants and lessees the hikes of up to 6p per pint imposed by some national brewers in the January round of price increases. Brakspear is absorbing the rise in beer production costs in order to hold prices on its beers brewed both at the Wychwood brewery in Witney and at the Bell Street Brewery in Henley-on-Thames. These include the popular Brakspear Bitter and Oxford Gold ales as well as Brakspear Special, the Henley favourite, which was restored to permanent production with the opening of the new microbrewery last March. Brakspear chief executive Tom Davies said: “A pint of cask ale is one of the main attractions of a visit to the pub, and by holding the price of Brakspear beers, we can help to make it a more affordable pleasure for thousands of pubgoers. January is always a flat month for our industry, but at least our pubs will be starting the year with a price advantage on Brakspear beers. Many drinkers choose our pubs for their Brakspear ales, so it’s good that our tenants and lessees are able to offer them their favourite pint at last year’s price, rather than hitting them with an increase. On average, beer prices have gone up by 3.0-3.5% this month.”