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    AIF   CA02215R1073

ALTUS GROUP LIMITED

(AIF)
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Delayed Toronto Stock Exchange  -  04:00 2022-08-08 pm EDT
53.88 CAD   +2.73%
07/18Altus Group to Announce Second Quarter 2022 Financial Results on August 11, 2022
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07/04British pub numbers sink to record low, research shows
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07/01Basin Uranium Announces Changes to Its Board of Directors
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British pub numbers sink to record low, research shows

07/04/2022 | 07:58am EDT
FILE PHOTO: Customers are seen inside the Little Driver pub in east London

LONDON (Reuters) - The number of pubs operating in England and Wales is the lowest on record, research showed on Monday, as surging energy costs combine with a shortage of workers to threaten the future of a much-loved British institution.

British inflation is hovering at 40-year highs, spurred by roaring post-pandemic demand for goods and services and more recently, the Ukraine crisis, pushing up fuel and energy bills.

There were 39,973 English and Welsh pubs at the end of June, 200 fewer than were open at the end of last year, real estate adviser Altus Group said, citing an analysis of UK tax authority data going back to 2005.

"Whilst pubs proved remarkably resilient during the pandemic, they're now facing new headwinds grappling with the cost of doing business crisis through soaring energy costs, inflationary pressures and tax rises," Altus Group UK President Robert Hayton said

In May, British pub operators Mitchells & Butlers and Marston's warned that expenses stemming from the Russia-Ukraine war and the cost of living crisis would cut their profits.

The hospitality industry as a whole has suffered in recent years during the COVID-19 pandemic which kept customers at home and, coupled with Brexit, deprived the industry of the workers it needs.

Though Britain's national identity is closely intertwined with its "public houses" - often depicted as the heart of a community - their number is in long-term decline due to a range of factors including changing drinking and social habits.

Many pubs also struggle to compete with the lower alcohol prices available at supermarkets.

Roughly 7,100 pubs have been lost in the last decade, Altus said. Many of those that have disappeared have either been demolished or converted into homes or offices.

Emma McClarkin, chief executive of the British Beer and Pub Association, said in an emailed statement that the numbers painted a "devastating picture".

"It's essential that we receive relief to ease these pressures or we really do risk losing more pubs year on year," she said.

(Reporting by Sachin Ravikumar; editing by William James and Ed Osmond)

By Sachin Ravikumar


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ALTUS GROUP LIMITED 2.73% 53.88 Delayed Quote.-24.08%
ALTUS SA 9.72% 1.355 Delayed Quote.-15.99%
EURO / BRITISH POUND (EUR/GBP) 0.11% 0.84476 Delayed Quote.0.38%
MARSTON'S PLC -0.47% 46.68 Delayed Quote.-39.09%
MITCHELLS & BUTLERS PLC 1.12% 190.4 Delayed Quote.-26.45%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) -1.46% 60.235 Delayed Quote.-19.25%
All news about ALTUS GROUP LIMITED
07/18Altus Group to Announce Second Quarter 2022 Financial Results on August 11, 2022
GL
07/04British pub numbers sink to record low, research shows
RE
07/01Basin Uranium Announces Changes to Its Board of Directors
AQ
06/30Altus Group Limited Appoints Wai-Fong Au and Carolyn Schuetz to Board of Directors
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06/30Altus Welcomes Wai-Fong Au and Carolyn Schuetz to Board of Directors
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06/30Altus Welcomes Wai-Fong Au and Carolyn Schuetz to Board of Directors
AQ
06/29ALTUS GROUP BRIEF : Says In Connection With Its Prior Announced NCIB to Purchase Up to 1,3..
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06/29ALTUS GROUP BRIEF : Establishes Automatic Share Purchase Plan
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06/29Altus Establishes Automatic Share Purchase Plan
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06/29Altus Establishes Automatic Share Purchase Plan
GL
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Financials
Sales 2022 737 M 574 M 574 M
Net income 2022 24,6 M 19,1 M 19,1 M
Net Debt 2022 194 M 151 M 151 M
P/E ratio 2022 86,9x
Yield 2022 1,11%
Capitalization 2 397 M 1 867 M 1 867 M
EV / Sales 2022 3,52x
EV / Sales 2023 3,17x
Nbr of Employees 2 600
Free-Float 98,6%
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Number of Analysts 8
Last Close Price 53,88 CAD
Average target price 63,38 CAD
Spread / Average Target 17,6%
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Managers and Directors
Jim Hannon Chief Executive Officer
Angelo Bartolini Chief Financial Officer
Raymond C. Mikulich Chairman
Edward Orlik Chief Information & Technology Officer
David Ross Chief Information Officer
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