Pizza man takes charge at Yates

PUBS operator Yates Group has finally landed a new chief executive a year after starting the search with the appointment of Pizza Hut boss Mark Jones. Jones, 41, has previously worked with Whitbread, Allied Domecq and Courage.

Yates also revealed a dramatic fall in profits after almost £10m of write-offs and provisions for reorganisation costs and losses on property disposals.

A pre-tax profit of £2.18m for the year ended March compares with £15.7m previously. Trading was said to be improving steadily. Sales rose 4% to £161.7m.