Bondholder News / Updates

A strategy for sustainable growth

Punch is a leading pub company in the UK with around 1,300 pubs. We have established a nationwide commercial property estate through selective acquisition and disposal, focusing primarily on freehold premises with sustainable cash generative potential, financed using listed debt.

Alongside the rental revenue from our estate, we have a strong income stream from wholesale product sales to the individual pub businesses run by our Publicans, in our premises.

Our business strategy is based on People (governance, industry standards, transparency), Pubs (locations, pub types and agreements) and Punch Support (business support, expertise, procurement, process efficiency, retail offer).

We are constantly working to improve the quality of each of our pubs and their consumer offer in a number of defined segments of the pub market.

This is achieved through the recruitment of high quality pub operators, their training and support, capital investment to develop the full potential of each outlet and the development of preferential supply agreements to maximise income.

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Debt Information

In June 2021 we issued a £600m 6.125% bond due June 2026, the proceeds of which were used to repay all other group borrowings.

We produce quarterly information including confirmation of compliance with the terms of the bond structure. We recognise the importance of keeping our bondholders informed about the underlying performance of the businesses and therefore we make available these quarterly reports on this website, which are unaudited and extracted from our management information.

Latest update:

The forthcoming calendar for publication of these results is as follows:

Quarterly reports
Period Accounts date Publication Download
Q4 FY21 15 August 2021 12 November 2021 Interim Accounts   Investor Report
Q1 FY22 05 December 2021 18 February 2022 Interim Accounts  Investor Report
Q2 FY22 27 February 2022 13 May 2022 Interim Accounts  Investor Report
Q3 FY22 22 May 2022 05 August 2022 Interim Accounts  Investor Report
Q4 FY22 14 August 2022 28 October 2022
Q1 FY23 04 December 2022 17 February 2023
Q2 FY23 26 February 2023 12 May 2023
Q3 FY23 21 May 2023 04 August 2023
Q4 FY23 13 August 2023 27 October 2023
Annual reports
Period Accounts date Publication Download
FY21 15 August 2021 12 January 2022 Final Accounts
FY22 14 August 2022 12 December 2022
FY23 13 August 2023 11 December 2023


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