StockMarketWire.com - Pub owner and operator The City Pub reported that annual revenue more than halved as the lockdown measures had shuttered its pubs for large parts of 2002.

Revenue fell to £25.7 million in 2020 from £60.0m in 2019, representing a 57% decrease.

The reduction was a 'result of the closures and restrictions on our pub estate for large parts of 2020,' the copany said.

Looking ahead, The company said it expected a rapid return to cash generation and profitability once restrictions were lifted.

The company said it would further reduce its cash burn, which was currently running at about £300,000 per month, and added that it had ample liquidity into 2022.






At 8:06am: [LON:CPC] City Pub Group Plc share price was 0p at 95.5p



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