Buccaneer remains in profit despite energy costs
South West pub group Buccaneer has reported that its business remains profitable, despite energy costs.
The Cheltenham-headquartered group runs nine managed pubs in Bristol, Devon, Dorset, Hereford, and Somerset reported turnover increased to £9,633,565 for the year ending 1 November 2022 compared with £5,818,345 the year before.
Revenue was also up on the £8,855,227 reported for the year ending 1 November 2019 – the last full year before the pandemic.
Pre-tax profit was down to £290,496 from £374,781 the previous year (2019: £196,203).
A dividend of £6,334 was paid (2021: £6,334).
The company was founded in 1974 by Michael Ruthven and remains in family ownership. In 1990 most of Buccaneer's 34 pubs were sold to Whitbread, with Mr Ruthven retaining two pubs.
The group has ambitions to enlarge its operation to 15 pubs.
