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Lib Group sees sales rise in "encouraging recovery"

Lib Group sees sales rise in

Wednesday 21 September 2022

Lib Group sees sales rise in "encouraging recovery"

Wednesday 21 September 2022

The Liberation Group has reported an increase in sales of 6.6% over the summer in Jersey across its local businesses.

In its latest trading statement, the pub & brewery group says there has been an "encouraging recovery" in Jersey, driven by "strong tourist demand and a gradual return to office working." Sales increased in Guernsey by 16.7%, and in the UK by 5% over the same period.

It also says its CI drinks businesses have performed "robustly within a mature market."

However, the latest trading statement also warns of a tough trading outlook, driven by the rising cost-of-living, and increasing costs, mainly utilities. It says those utility costs will double in the UK in October, but have been kept to a more "manageable level" in the Channel Islands.

Group CEO, Jonathan Lawson commented: "Once again, we have cause to be thankful of our Group composition and geography as utility inflation and costs in the Channel Islands has been kept to a manageable level over the next few years which helps blend and balance our overall cost base.

"Our Guernsey and Jersey drinks businesses have performed robustly within a mature market and once again have demonstrated the value of a diverse group and blend of channels which includes Free Trade, Off Trade and Retail and we have been pleased to see margins maintained providing strong cash generation for the Group.  The partnership with Diageo, agreed in July 2021, has provided us with incremental sales opportunities in both the on and off trade and with a long-term sales growth opportunity. 

"Like the rest of the hospitality industry recruitment has continued to be a challenge however we have started to gain some positive traction in both retention and recruitment and are far better placed than this time last year as we head into the autumn.  

"Despite the obvious headwinds for our customers and ourselves, we are confident in our ability to deliver a fantastic Christmas for our customers and ongoing investment into our business is testimony to the belief in our teams and in the potential for our business over the next few years."

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