stock watch

Budget boost for brewers and pubs

CHANCELLOR Gordon Brown's budget revelation that consumer spending was higher than the City had assumed provided a fillip to the share prices of major brewers and pub chains, whose growth is closely linked to consumer outlay.

So Bass's share price climbed by 5.58%, Scottish & Newcastle's by 5.22% and Whitbread's by 4.64%.

The biggest percentage rises came from Ryan Hotels, up by 10.28% on top of last week's 4.90% climb, and Break For The Border (BFTB), up by 10.23% after a 3.30% decline last week.

BFTB unveiled a 59% rise in annual pre-tax profits to £1.77m on turnover up by 30% to £24.7m, with operating profits up by 45% to £1.95m from bars and restaurants, and up by 103% to £331,000 from events catering division Lawson Beaumont.

A significant gain of 5.29% was also recorded by Oriental Restaurants.