Bass profits up 4 per cent
Bass is planning to focus on its strong brands in order to drive growth, it confirmed after unveiling interim profits before tax and exceptionals of £337m - a 4 per cent increase. During this time Bass acquired 79 Posthouse hotels for £810m and the Regent Hong Kong Hotel for £241m, and sold 988 small, unbranded pubs for £241m. Chair, Sir Ian Prosser, said: We have continued to realign the business to further increase our focus on the growing international hotel business and the high return UK retail business. In both of these businesses we have leading market positions. Bass' warchest will be mainly invested in larger, more efficient, differentiated pubs which are suitable for branding and international hotels.
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