Anjimile Banda of Malawi

Her Excellency Dr Joyce Banda's address to the Scottish Parliament - 19t...

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Labels: Brian Davidson, Crown Hotel, Lewis, Portree Hotel, Prince Charles, Punch Taverns, Scottish portfolio, Stornoway

Punch Taverns to spend £3million on Scottish pubs revamp

Punch Taverns will create 250 new jobs in Scotland

as part of its plans to invest more than £3million

in its portfolio north of the border, the pub

operator said yesterday.

Punch, which has about 230 sites in Scotland, said

the new investment was on top of the £1.5million it

spent on refurbishing hotels on Skye and Lewis in

the last year.

A third of that money went towards sprucing up the

16 bedroom Crown Hotel in Stornoway, an

establishment which is famous for serving Prince

Charles’ first underage drink.

The remaining £1million was used to refurbish the 24

bedroom Portree Hotel on Skye.
The next 12 months will see the Eagle Hotel in

Dornoch and the Corriegarth Hotel in Inverness get

revamps costing £200,000 to £300,000 each.

Punch will also spend £100,000 on the Scotia Bar in

Aberdeen and £300,000 on Blacksmiths, a pub in

Inverness.

By investing in its Scottish portfolio, Punch is

hoping to tempt the country’s rich pool of

entrepreneurs to choose one of its sites for

developing their own business – and capitalise on

the growing tourism market.

Brian Davidson, operations director at Punch, said:

“We have some great pubs and hotels coming up for

lease that need strong local entrepreneurs to run

them.

“As part of our support package, we will work

closely with them to develop their business plan,

making this a great opportunity for the right

candidates to take the lead on running their own

invested site.”

Mr Davidson was speaking after Punch revealed its

interim pre-tax profits had plummeted 84% to

£54.7million on revenues of £212.9million.

The previous year’s figures were inflated, however,

by the proceeds from Punch’s capital restructuring

efforts.

On an underlying basis, pre-tax profits came in at

£27.3million for the 28 weeks to March 5, a year-

on-year decline of £3.1million.

The Staffordshire-based firm sold £288million of

worth of real estate in the last 18 months in a bid

to shrink its debt pile.

At the start of last month, the business boasted

3,330 establishments across the UK, the vast

majority of which are held on a freehold or long

leasehold basis.

Punch hopes to reduce that figure to 2,800.

Mr Davidson said Punch’s estate in the north of

Scotland had not been impacted by the divestments.

Average profits per-pub went up 3% during the period

under review.

The listed company’s shares closed last night almost

12% higher to 108.5p.

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Labels: Excellency President Joyce Banda, Joyce Banda, Joyce Banda Malawi, Malawi President Joyce Banda, President Joyce Banda, President of Malawi

President Joyce Banda to continue distributing maize to needy people

President Dr. Joyce Banda says she will continue distributing food aid to families affected by hunger to serve lives despite some calls from opposition parties and other NGOs that she should stop.
Banda said this on Sunday at a developmental rally she held at Goliati Trading Centre in Thyolo District.
She wondered why some quarters were demanding that she should stop distributing maize to families affected by hunger while former presidents were distributing maize without any disturbances when they were in power.
President Banda said she started distributing food aid way back before she became the state president.
“I have been distributing maize for so many years, even last year I did, where were those stopping me from distributing maize and why stopping me this year,” wondered Banda.
She, therefore, said her government will make sure that the food should rich the intended beneficiaries regardless of political affiliation.
Dr. Banda said her government will continue with farm input programme and the Farm Input Loan Programme so that the country should continue having bumper yields as most areas have already indicated that people will harvest more.

However, Banda said shortage of land in other districts is also contributing to hunger as most families do not have enough land for cultivation.
She also said that government is working around the clock to ensure that there is a good flow of maize in all Agricultural Development and Marketing Corporation (Admarc) depots in the country so that people should not panic.

“Two years ago people could spent days and nights waiting for maize in our Admarc deports, but that is not the case with my administration,” she said.
On the country’s economy, Banda said her government has done a good progress, saying Malawi Kwacha has appreciated.
She added that availability of forex is also a sign that the People’s Party (PP) led government.
“This is a sign that we are on course of improving our economy because when I came into power in 2012, I discovered that there was no money in government coffers,” she said.
The President also donated a house built under Mudzi Transformation Trust to Belita Malikita who looks after her five grandchildren.
President Banda said the ruling PP has brought real freedom as it is being witnessed through freedom of speech and association in the country.
At the function, President Banda also donated blankets, floor, soap and sugar to needy families

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