Good beer cheer for Capital Pub Company

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The big pub giants think not, and have their own financial results to prove the point. Six UK pubs are closing a day, at which rate the last one will call time in 2038.

Today the Capital Pub Company, a portfolio of 25 unbranded London pubs, showed that decent boozers could yet have a future.

Sales at the pubs - which include the Anglesea Arms in South Kensington and The Marquis of Granby on Shaftesbury Avenue - rose 5% to £20 million in the year to March. Profit is up 7% to £2.1 million.

Chief executive Clive Watson said the results are "encouraging in what has remained a relatively resilient London market".

Capital is defying convention by focusing on wet-led pubs where landlords are free to buy in beer of their choosing.

Pubs '*' Bars, the AIM-listed community pub owner focused on the South of England, is finding life a little tougher.

It made a loss for the year to December of nearly £9 million.

Chairman Keith Chapman is "cautious" about future prospects.