Aug. 25 (Bloomberg) -- Punch Taverns Plc, the largest U.K. pub owner, said earnings for the year fell as the recession dented consumer confidence and summer rain kept drinkers at home.

Sales fell 1.4 percent at managed pubs open at least 12 months in the 52 weeks ended Aug. 22, Punch said in a Regulatory News Service business announcement. Earnings before interest, taxes, depreciation and amortization at those leased to tenant managers fell about 11 percent.

Punch survived a protest vote by some investors against a plan to raise 375 million pounds in a share sale last month, mostly for debt reduction. The Burton-upon-Trent, England-based company said it had repaid 708 million pounds ($1.2 billion) of debt since the start of the financial year. Punch also raised more than 400 million pounds from the sale of some outlets.

Punch rose 4.2 pence, or 4 percent, to 107.6 pence in London yesterday. The shares have climbed 89 percent this year.

To contact the reporter on this story: Matthew Campbell in London at mcampbell39@bloomberg.net.

Last Updated: August 25, 2009 02:32 EDT