An interim financial update from Punch Pubs has reported that revenue for the 40 weeks to 18 May was up 4.2 percent to £251.7m, with Q4 trading “strong” thanks to growth in like-for-like sales and the impact of an ongoing investment programme.

Punch Pubs has reported revenue for the 40 weeks to 18 May was up 4.2 percent year-on-year, with both its leased and tenanted and pub partnership divisions showing growth.

The operator added that trading for the eight weeks to 13 July has also been “strong” thanks to inflationary price increases and the completion of several pub acquisitions and conversions.

“Both leased and tenanted and partnership pub segments of the business delivered like-for-like underlying earnings before interest, taxes, depreciation and amortisation growth for the period, while underlying EBITDA for the pub estates before central costs increased £9.1m to £98.7m,” noted the pubco.

“Quarter four trading – which consists of the eight weeks to 13 July 2025 – has also been strong, with EBITDA ahead of the same period in 2024.”

According to the latest report, EBITDA was up from £63.2m in 2024 to £69.3m, with £71.2m identified as “underlying EBITDA.”

“It was boosted by maturing profits from pubs converted from L&T to PP, opportunistic acquisitions of single sites and small pub portfolios with 65 acquisitions completed since August 2022.

Punch also reported an effective assault on its cost base,  implementing a £5.1m costs reduction plan. During the period the group spent £17.1m on the acquisition of 29 pubs, and spent £27.1m on expansionary and maintenance capital.

And the future looks a little more promising for the operation: Punch converted 11 pubs from leased and tenanted to Punch Partners during Q4, and has identified a further 40 to be converted over the next year.