Regent is eyeing up rival pubs

REGENT Inns, the pub operator behind the Walkabout and Jongleurs brands, is preparing to go on the acquisition trail as several struggling rivals put sites up for sale at reduced prices.

The firm raised £16.7m through a share placing in November, and after paying off some debt, it has both the cash and the inclination to expand.

As well as buying licensed sites to develop its main brands, the company is keen to promote its new brand, Stonehouse.

Regent, which has also been offloading some of its smaller, unbranded pubs, is expected to report a slight increase in pre-tax profit at its interim results on Thursday, up from £6.6m to an estimated £7.7m.

After a weak summer when trading on the High Street was down, the company's fortunes are thought to have picked up slightly, though the Rugby World Cup in the autumn failed to provide the boost chief executive Stephen Haupt was hoping for. People ventured to pubs only for the final few matches.

In its pre-close statement in December, Regent said that like-for-like sales for Walkabout and Jongleurs declined by 6.9% in the 22 weeks ending 6 December.

London pub and brewing company Fuller's will decide shortly on the future of its Fine Line pubs. It brought in former Hartford Group director Sheila McKenzie to advise about updating the upmarket chain.