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Sales boost for Oakman Inns beats ‘personal best’
Sales rose by 5% at pub chain Oakman Inns for the first quarter of the financial year thanks in-part to two new sites added to the portfolio.
Peter Borg-Neal, CEO of Oakman Inns. (Photo: Oakman)
Like-for-Like sales for the 13 weeks ending 1st July showed a 5.1% improvement, while total sales for the period, at £8.8m, showed an almost 35% increase on the previous year.
The boost means that Oakman has broken its overall group revenue record for the first financial quarter, which now sits at £33,800.
Two new sites opened towards the end of 2017 — the Beech House in Amersham and the Cherry Tree in Olney — which netted average sales of £43,000 in VAT per week.
Oakman’s property director, Malcolm Schooling, confirmed that The Royal Foresters in Ascot will open on July 27th, after poor weather conditions over winter delayed construction and its planned opening in Spring.
“The opening of our site in Ascot has been delayed as a result of the dreadful winter weather, despite our best efforts,” he said.
“However, it is a huge project, and the important thing is that we remain focused on getting every element of the design just right. When we open on July 27th we will be delivering an outstanding Oakman Inn that will justify the £10 million investment we are making.”