Punch Taverns plc 2011 Annual Report

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14 Punch Taverns plc Annual Report and Financial Statements 2011 Operating review continued Punch support We are committed to working in partnership with our licencees from day one to help them build the best possible sustainable pub business. Partner Development Manager This relationship is driven by the Partner Development Manager (PDM) who works alongside the licensee to help them drive sales and improve retail performance. To ensure the PDM has the tools to do this, we have reduced the number of pubs they manage, removed rent valuations from their role, invested in industry-leading training and given them the flexibility to carry out peak trade visits to best work with our partners. Roadshows and Partner support The Buying Club also hosts our roadshows, an industry first bringing together a wide range of suppliers of drinks, food, services and expertise, all to help our Partners build their business. Last year saw 2,646 Partners, 46% of our leased pubs, attend the 11 roadshows which took place across the UK, with a similar number taking place this year. Throughout the year Partners all have access to a range of support, from training in all aspects of successful pub management to help developing a food offer. We have the largest food support team in the industry, which carried out 2,211 visits to our pubs, advising Partners on all aspects of launching and improving a food offer. In addition, our marketing department offers a full range of support on wine, soft drinks and beers, with a focus on support for cask ale, which is a unique selling point for many of our pubs. As a company we work with more than 116 brewers of all sizes and over 100 cask ales are available to our estate through 11 regional depots, with more than 100 additional ales available on a regional rotation through our Finest Cask scheme. This year has seen more than 250 Punch pubs listed in the CAMRA Good Beer Guide, with a further 997 Cask Marque-accredited. New lease Partners also have access to our new market-leading lease, which offers all of our licencees the option of free-of-tie pricing, accompanied by an open market rent valuation following RICS guidelines. Lessees are offered an open and transparent choice: paying higher fixed rent for his or her pub in exchange for the higher discounts offered at free-of-tie levels. The new lease agreement also offers the option of multiple guest ales free of tie. Pubwise panel Our Pubwise panel is made up of independent licensed trade accountant specialists, who provide accountancy and stocktaking services to the trade. The rigorous tender process undertaken in order to get on the panel of specialist independent firms has resulted in a network of just 13 vetted and approved suppliers. The panel is part of our ongoing commitment to provide best value to our Partners. Access to accurate financial information, cash flow management and stock controls are important to the survival of all businesses, particularly new ones. We want to ensure that our Partners have access to a choice of impartial, high-quality suppliers who can help them to maximise their gross profit and control their costs at an affordable price. Punch Buying Club This year sees the first birthday of the Punch Buying Club, which currently has more than 1,600 Partners signed up, ordering more than 21% of our total beer orders online. The Buying Club is more than just an online ordering site it gives Partners access to exclusive deals and through the Punch Buying Club blog Partners can feed back on issues, seek advice, share best practice and access exclusive marketing and point of sale materials. Investment Our PDMs will work closely with our Partners before they even sign their lease to agree the right offer and, if required, the right investment for the pub. In the last financial year we spent £38m on our pubs, with more than 120 transformational spends taking place, alongside 400 Ready-for-Business investments to give our pubs the best possible start when a new Partner takes over. We have a commitment to investing in our core pubs and will continue to invest alongside the right Partners at this level.
Punch Taverns plc Annual Report and Financial Statements 2011 15 Operating review continued Corporate social responsibility We recognise the role of the pub at the heart of the community, whether it is rural or urban. We strive to make our pubs, our staff and our business part of that community. Business review Corporate support Punch Taverns remains committed to supporting industry bodies and charities. We donated more than £17,900 to Licensed Trade Support & Care, which is part of the Licensed Trade Charity, which provides support to people in crisis who are working or retired from the licensed drinks trade. Our donation enables the charity to run a national Volunteer Visitor programme. Community support The pub continues to be at the heart of the community, whether rural or urban, and we recognise our pubs play an important part in the communities they operate in. In recognition of this we remain active supporters of Pub is the Hub, which was initiated by HRH The Prince of Wales in 2001. Pub is the Hub encourages rural pub owners, licensees and local communities to work together to support, retain and locate services within the pub, which can often improve the viability of the business itself. Punch supports Pub is the Hub through donations and senior members of the team actively participate in its regional advisory boards. We also support British Pub Week, an industry-wide initiative to encourage people to use their local pubs, through sponsorship and membership of the steering committee. Our pubs also give back to the community through fundraising and supporting local causes, and our pubs are one of the biggest contributors to charity, according to PubAid, raising hundreds of thousands of pounds for local causes in the last year. A great place to work Our commitment to all of our staff is to make Punch a great place to work so we attract and retain a high-quality, motivated team, and an element of this is creating a sense of community through a series of social events. Both the summer barbecue and Christmas party help raise funds for our charity initiative, while reinforcing our commitment to our employees. We also provide a range of facilities at our head offices for our employees, including visits from external suppliers. Responsible retailing We believe that the vast majority of pubs throughout the UK already provide a well-regulated environment for the responsible retailing of alcohol. We remain committed to building on this through our role as signatories to the Portman Group and supporters of Drinkaware. We actively support the ‘Why let good times go bad’ campaign to tackle binge drinking amongst 18- to 25-year-olds across our estate. Responsible retailing forms a key part of our Partner training and 99.5% of new starters took part in a responsible retailing session during their foundation week. To drive best practice, we produce a comprehensive risk management pack for all of our Partners. This outlines all of the responsibilities associated with the safe operation of their pub, including a fire risk assessment, a fire safety logbook, and information on how to limit risks throughout their pub. Financial statements Governance It is not just our pubs that are active in the community – our support centre in Burton supports its local community through the Punch Community Spirit Project (PCSP). The PCSP has supported 143 local causes to the amount of £197,000 since its launch in 2007. Examples of the support we have given include donations to the Burton Queen’s Hospital Scanner appeal, Firesafe to develop fire safety awareness in local schools and funds to give children with disabilities a holiday. This year we aim to build on this community support through ‘Punch Community Promise’, an initiative donating time and money to community projects in Staffordshire. For more information visit: www.punchtaverns.com
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