Punch Taverns struggles with failing pubs

Punch Taverns' income is being dragged down by failing pubs but the group has high hopes for the Olympics and Euro 2012 football championships.

Punch Taverns' income is being dragged down by failing pubs but the group has high hopes for the Olympics and Euro 2012 football championships.

Like-for-like net income in the group's core estate of 2,946 pubs declined by 2.9% in the 12 weeks to the beginning of March compared to the previous three months. Comparing the last two six month periods, income fell 2.1%. Punch says this was because of "softer trading" after Christmas, with weaker beer volumes in the months of January and February.

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