Brighton pub company reports drop in sales, profit and staff

A Brighton pub company has reported a drop in sales, profit and staff in its most recent financial results.

Turnover dropped from £49 million to £47.5 million at the Laine Pub Co, now part of Punch, and ultimately owned by Cayman Islands registered CF Cooper Holdings LP.

Profit before tax fell from £3.7 million to £3.3 million in the year to Sunday 10 August 2025 and the average number of staff fell from 192 to 115.

The company spent £172,000 on “restructuring” – down from £411,000 the previous year – as staff costs such as salary, pensions and national insurance contributions were brought down from £5.1 million to £3.14 million.

Punch bought the Laine Pub Co in May 2018 in a deal that valued the Brighton business at about £40 million. As well as pubs, some income came from brewing, which has since ended, and a small percentage from rent.

Laine was worth about £20 million when Risk Capital Partners, run by Palace Pier owner Luke Johnson, took a stake in the business in June 2014.

During this time, the company bought pubs in London and elsewhere but the bulk of its business remains local, with each pub intended to have its own distinct feel.

Those in Brighton include the Fortune of War, on the seafront, the Fiddler’s Elbow, in Boyces Street, the Hope and Ruin, in Queen’s Road, as well as the Kemp, formerly the Thomas Kemp, and the Sidewinder, both in Kemp Town.

In Hove, the portfolio includes the Exchange, the Freemasons, the Ancient Mariner and the Old Albion.

Other venues include the North Laine Brewhouse, formerly the Gloucester night club, as well as the Open House and the Signalman either side of London Road railway station.

Laine owns more than 40 pubs in all, with more than 30 of those in its Brighton and Hove heartland. The subsidiary accounts for about 3 per cent of the estate owned by its parent company but more than 10 per cent of turnover and profit.

CF Cooper Holdings Limited, the British parent company, reported turnover of £338 million in the year to last August, up from £324 million. The underlying [re-tax profit was £27.5 million, up from £24.6 million.

The company said that its underlying EBITDA (earnings before interest, taxes, depreciation and amortisation) was £98.2 million, up from £91.4 million.

CF Cooper Holdings owns 1,266 pubs, most of which are leased and run by tenants. But Laine sits within its pub partnerships segment, accounting for 324 premises – more than a quarter of the total.

The CF Cooper Holdings annual report said: “The Pub Partnerships segment also includes the Laine business unit, a community of 51 highly individual pubs in Brighton, London, Birmingham, and Norwich that specialise in enhancing the customer experience beyond the accepted offering of a traditional pub.

“Laines’s propositions harness new technologies, cutting edge art, inventive food and drink products and innovative gaming and entertainments to ensure the achievement of the company’s principle goal – to ignite every moment for its customers through the creation of inviting, indulging and inspiring pub and beer experiences.

“Laine has operated a craft brewery, taking inspiration from the vibrant pub and beer scene of the city of Brighton and Hove to create craft beer imbued with flavour, experimentation and fun.

“Following the year end, we have partnered with Keystone Brewery to continue to offer Laine’s flagship craft beer products – Sonar IPA, Mangolicious Pale Ale and Z3ST – in pubs, bars, restaurants and shops throughout the country and to continue to develop new products under the Laine brand, resulting in the closure of our in-house brewing operations.”

The forerunner of the Laine Pub Co was founded in Brighton by Gavin George in the 1990s. He built up the business in the following decades and stayed after it was sold to Punch.

Mr George, 60, stepped down as chief executive 16 months ago and joined the board of Punch as a non-executive director.