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Pub industry will pressure new Government for business rates change The pub cheap pandora charms industry will pressure the new Government to consider reforming business rates, according to Fullers chief Simon Emeny, as his company hit its earnings targets.
Business rates risesimplemented by the watch charm for pandora bracelet Conservatives before the general election are set increase the levyby roughly 22pc for Fullers, Mr Emeny revealed. He said the impact wasdisproportionate on businesses with large physical estates compared to their online rivals. We have already been vocal on this issue and we are working with trade organisations to make sure this does feature on the agenda of whatever the new Government is, Mr Emeny said. He said the business rates system was not designed for the environment we compete in and was totally outdated. Its not only in our industry but the retail industry too that is calling for a complete review of business rates so they reflect the growing proportion of trade carried out online, Mr Emeny added. At the moment it does not lead to a level playing field. Mr Emeny was speaking as his company posted a near 2pc rise in pre tax profits to 39.9m in the year ending April 1 onrevenues of 392m, up nearly 12pc on the comparable period. While the pace of profit growth has slowed, analysts at Peel Hunt noted the like for like sales growth of 3.7pc in its managed pub estate whereby it runs the site rather than having a tenant had outperformed the industry, according to data from the Coffer Peach Business Tracker. Fullers like for like sales since March in the managed division are up 6.6pc, which Peel Hunt called amongst the best in the sector. Mr Emeny said the focus on providing more accommodation across its pub estate would also ramp up and that the 10pc growth in the number of rooms in the past year was the largest the company had seen. Accommodation is becoming an important third revenue stream for pubs alongside food and drink as it has the potential to increase the amount customers spend per visit.
Rivals Marstons pandora kids jewelry and JD Wetherspoon have both turned greater attention to expanding the number of charms for pandora bracelet rooms across their pub estate recently. Elsewhere, Mr Emeny said the companys stake in pizza and craft cider chain The Stable had increased by 25pc to 76pc and that it had the option to buy the remaining share of the 17 site company next year.
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