A “surprising” number of businesses decided to host vegan Christmas parties, according to the City Pub Group, which on Wednesday cheered sales growth.
Chairman Clive Watson said Tell Your Friends, its Parsons Green all-vegan boozer, had strong trading last month with more work dos booked in than he expected. He added that Brits shunning meat and dairy for “Veganuary” had led to the pub being packed this month.
Watson, whose daughters Lucy and Tiffany have been on reality show Made in Chelsea, said as he reported full-year results: “Trading was encouraging over the festive period and throughout 2018.”
Turnover rose 22% to £45.6 million and comparable sales were up 1.6%.
The company plans to boost its estate from 44 pubs to 50 by September.
The shares rose 9.5p to 206.5p. The AIM-listed firm floated at 170p in 2017.
Anna Barnfather, analyst at house broker Liberum, said: “Competition for new sites is waning and underlying trading is accelerating which, combined with its robust balance sheet, puts City Pubs in a strong position to prosper.”
