City Pub Group shares bounced up more than seven per cent yesterday after the pub company posted elevated sales. With "very low" net debt, the group is well placed to "take advantage of the opportunities that will arise from these most challenging times, when appropriate." City A.M. understands the pub group is planning to snap up new sites, predominantly freehold pubs, at the right price. Details of a six-month business support scheme on energy bills were welcomed by the CEO of City Pub Group, with Clive Watson praising the government for issuing support "in reasonable speed". However, Watson also called for a VAT cut to five per cent for six months to help operators who have been struggling with labour, food and construction costs, as well as high energy bills.

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