Punch Taverns said it is on track to sell around 1,800 non-core pubs as part of a disposal programme designed to slim down its leased operation from 6,800 sites to 5,000., reports the Publican
The UK’s largest pubco, which has been selling off around 70 bottom-end pubs a month as well as packages of high-end sites to regional brewers over the past year, told a City conference hosted by stockbroker Numis Securities that it was halfway through its planned disposal programme.
The group also confirmed that its new code of practice was currently being assessed by the BII and would be published on or around April 22, when it announces its interim results.
Details of new lease agreements, likely to come into effect in the next financial year, will also be revealed around the time of its interims.
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