Board

2012

Business Outlook

2011

2005

2006 2007

2008 2009 2010

Public Houses

8.5

6.5

5.2

- 1.1% movement in average prices

Public Houses

-0.9

-11.6

-20.1

Neil Morgan Director and Head of Public Houses

“ Though clouded by the general economic malaise, 2011 has given those of us involved in the sector grounds for optimism.

The estate-rationalisation strategies of some of our major names, the return of entrepreneurs and the

diversification plans of many, make it an exciting time for the sector and for those seeking to invest in it. Whilst pubs continue to be lost to the market, the good news is that more sold pubs are staying as pubs, symptomatic of an increasing appetite for the sector.”

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