UPDATES FROM PACIFIC

April 2022

Following the budget announcement by the Government and the start of the new financial year, along with rising costs nationally, we have recently reviewed our pricing across the group and will be launching new menus that reflect the current economical situation. Based on so many increases in costs, we have unfortunately been forced to increase our prices across the board in order to remain financially viable. This has not be undertaken light-heartedly and is not an act of greed.

Everyone is aware of the large spikes in energy costs being felt across the nation. We as a small business are not immune to this and, as a high consumer of electricity and gas, our cost increase is large. However, there are additional increases that are not felt by the household, but are felt by the hospitality industry. Vegetable oil is one product to see its cost spike massively over the last week. A product used in almost every restaurant for their fryers and cooking, it has seen an increase of around 25%. This has had a knock-on effect of panic buying (rather similar to petrol earlier in the year) and now restriction have been placed on the number of barrels available for purchase. Another price increase is that in poultry. Again this has seen an increase in 15% compared to a month ago.

Similarly, the majority of alcoholic products have seen an increase over the past 12 months. Draught beer products have been one of the most affected by this - a product with does not yield much profit - as well as the majority of spirits (especially those which are imported).

We know that this is not an ideal situation for anyone but it is an unfortunate domino-effect that has spread throughout a lot of industries. We want to take this opportunity to alert you all to the rising costs and thank those who have supported us and continue to support us.