PUB group Punch Taverns posted a 28 per cent rise in profits yesterday and pledged to spend millions in the region on acquisitions and refurbishments.
Punch, which acquired Hartlepool-based Pubmaster for £1.2bn in 2003, said it was always looking to buy individual pubs or groups in the North-East.
In the past year, the UK's second-largest pub company spent almost £4m on refurbishments at 58 pubs in the region and a further £5.8m in buying 11 more sites.
It now has 476 pubs in the North-East and is looking to expand in North Yorkshire, Northumberland and Durham City.
The company was relaxed over the proposed smoking ban at pubs serving food.
Chief executive Giles Thorley said: "Over 4,000 of our pubs have no-smoking areas already, so by the time legislation comes in, customers will be pretty relaxed about it. I think the matter is pretty benign."
Profits were up to £207m compared with £161m last year, boosted by nearly 500 pubs bought from InnSpired.
Speculation has mounted that it may be preparing a £3bn bid for Spirit, which owns the Gretna Green Hotel, in Newton Aycliffe, and Scruffy Murphy's, in Durham, among others.
The firm recently spent £203,000 refurbishing the Lord Nelson, in Gainsford, and £128,000 upgrading the Black Swan, in Darlington, while Daniel Keen, chef and co-licensee of the Smiths Arms, in Carlton, was voted chef of the year at a Tees Valley awards ceremony.
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