Bar division dents Brighton Pier Group results
Total revenues at The Brighton Pier Group were down by over £1m.
Total revenues at The Brighton Pier Group (BPG) were down by over £1m for the six months ended 25 June 2023, with the business attributing the decline in sales to its bars division.
Revenue across the group came in at £16.2m (2022: £17.3m). The majority of this sales decline was from the bars division, which BPG says faced tough comparable numbers following strong trading from a post-pandemic surge in demand in the first half of 2022.
Ongoing inflationary pressures, in particular to food, beverage and staff costs have also had a significant impact on the group's operating margins in the first half of 2023, resulting in lower earnings than in the previous year.
BPG's bars division trades under a variety of concepts, including Embargo República, Lola Lo, Le Fez, Lowlander and Coalition. The group is best known for operating Brighton Palace Pier, which sales performance was up 2% versus 2022.
"As highlighted in our last trading update, the group is navigating a challenging environment, with persistent high inflation and cautious spending by consumers negatively impacting trading," says Anne Ackord, chief executive officer of BPG. "When combined with the ongoing cost pressures, this has resulted in the group recording lower than expected sales and earnings in the first half of 2023.
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