Punch Taverns Off Target After a Flooding Damper

Summary

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BRITAIN'S second-biggest pub company, Punch Taverns, was today forced to tell investors for the first time since it listed on the stock market more than five years ago that it will miss the City's profit forecasts.

Flooding and bad weather mean it is likely to post profits between 2% and 3% below analysts' forecasts.

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Extract

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Punch Taverns Off Target After a Flooding Damper

That means a shortfall of up to 8 million on the average forecast of pre-tax profits of 285 million for th...

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