Toby Smith

Booming rosé sales help give City Pub Group confidence to promise dividend return

• Strong demand for pink wine for Provence has helped give City Pub Group the confidence to promise a return of a dividend for the first time since Covid struck, despite the cost of living squeeze on customers and rising inflation. Chairman Clive Watson today said his business planned to “recommence dividends in the autumn” as the group, which owns 41 pubs, reported a 40% jump in sales to £35 million for the year just gone. Michael Clifton, consumer analyst at finnCap, said: “The business is in a relatively safe position regarding inflationary pressures, with 3-year supply agreements in place with its major beer suppliers from Dec-21 and energy cost exposure now hedged.”