Aprirose not fazed by poor financial reports from its new acquisition

Wear Inns has reported a revenue fall of 4% from £14.2m in 2017 to £13.6m in 2018, according to its latest financial reports.

The results, calculated to the year ending 31 March 2018, also highlighted a decrease in gross profit from £5.4m to £5.2m, for the northern based pub group.

However, the results did not discourage Aprirose, with the investment company acquiring the 25-strong portfolio for £22.4m yesterday.

Operating profit is also down from £1.5m to £1.4m, a fall of 7%, while loss before tax rose by nearly double, from £45,396 to £82,256.

Despite the drop in profit, Manish Gudka, CEO at Aprirose, remained positive on his company’s recent purchase, he said: “The brand has developed a first-class reputation with a focus on community, quality drink, customers and staff. We have a clear vision of building a pub group of scale and we look forward to supporting Wear Inns on their next stage of growth.”

More can be found about the recent acquisition here:

Wear Inns goes for over £20m in Aprirose acquisition

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