The UK’s largest pub group, Punch Taverns, has reported a 13 per cent rise in its full year.

During the 12 months to 18 August, pre-tax profits increased to £282m from £250 in 2006.

During the period, the group transferred 563 pubs from managed to leased and acquired 178 new sites – including the 82-strong Mill House Inns portfolio.

Giles Thorley, chief executive, said: “We’ve managed to produce a strong set of results despite the challenges of the last quarter of the year.”