Despite a 5% increase in turnover from £421.8m to £444m this year,  Herbies is likely to see PEP drop by between 12 and 22 per cent compared to last year. At the end of the 2007-08 financial year PEP stood at just over the £1m mark for the first time.

Few firms are expecting to better last year’s results but the change in fortunes is made more stark in this case as both revenue and pep increased by 25% for Herbies last year, PEP also broke through the £1m barrier for the first time and it may be while before this is repeated again.