The pub company launched by Firkin brewery entrepreneur David Bruce and former Regent Inns finance director Clive Watson, Capital Pub Company (CPC), has announced plans for a stock market flotation.

Bruce announced on 9 August that CPC, which owns 12 freehold pubs in London, is planning to list on the Alternative Investment Market (AIM) soon after its March 2006 year-end.

CPC began trading in October 2001 as an Enterprise Investment Scheme, whereby start-up businesses can raise funds by offering lucrative tax breaks to potential investors.

Now believed to be worth in the region of £16m, CPC raised £15.4m at its start-up in order to purchase 12 pubs.

The company has also announced record results for the year ending 27 March 2004.

Turnover was up 61 per cent to £6.7m compared with 2003’s figure of £4.2m, while earnings before interest, tax and depreciation were up 249 per cent to £1m from £287,000 in 2003.

Profit before tax increased 234 per cent to £688,000 while a revaluation of the estate generated a surplus of £482,000 due to the increased value of London freehold pubs.

The company acquired two further properties – The Mitre in Lancaster Gate and Ye Olde Monken Holt in Barnet – and undertook small refurbishments of The Square Pig in Holborn and The Ladbroke Arms in Notting Hill, both of which have resulted in increased sales.

Bruce, the chief executive, said: “We are extremely encouraged by this strong set of results, which prove that our commitment to non-branded, off high street pubs is the right one and highlight the strength of our investment case.

“We look forward to another strong performance in the year ahead, during which we also hope to provide a matched bargain trading facility ahead of our AIM flotation.” Details: www.capitalpubcompany.com