It has not been a good year for hospitality sector in general, but particularly for pubs and bars. Loungers (LON: LGRS) is reporting its first half figures on 2 December and it has done better than most. The most recent trading statement was much better than anticipated and the latest results will show how well trading is holding up.
Bristol-based Loungers operates café/bar/restaurants in England and Wales under two brands: Lounge and Cosy Club.
Like-for-like sales in the 13 weeks to the beginning of October were 25% ahead, when the pubs and bars sector sales were continuing to decline....
