Following the interim results from Punch on Wednesday 20 April, the pub group is delighted to share further details on the new Mercury sector of its business. Headed by Paul Pavli, Mercury replaces the turnaround division and aims to deliver like-for-like growth in this area by the end of 2017.
As a result of Punch’s internal review of the business, released alongside the interim results, Punch has created Mercury pubs to sit alongside the core business. Mercury pubs include the 499 pubs already in the turnaround division, as well as a further 240 pubs from the core sector.
Punch has recognised the success delivered by its turnaround (non-core) sector so far and, as a result, the purpose of Mercury will be to continue its legacy; to deliver like-for-like growth in an estate of sites under a more intensive, empowered operating model.
Punch has recognised the requirement to retain the number of pubs in their portfolio and ensure they remain viable and Paul Pavli, who previously led Punch’s New Business division, has been tasked with this project. Duncan Garrood, CEO, commented; “Across the wider business we have a clear focus on improving customer service, and as such have reviewed all of our key processes to ensure we put the customer (our publican) at the heart of everything we do.
“The creation of Mercury is part of this and we have big plans for the 739 pubs that come under this banner. We have a clear target to deliver like-for-like growth in this division from the end of 2017 supported by the sign-up of pubs on more flexible tenancy agreements, and look forward to seeing the Mercury pubs grow thanks to the model we are putting into action.”