Novus invests £2m in former Balls Brothers sites

Published: 20 September, 2011

Novus Leisure, new owners of the Balls Brothers sites, has invested £2 million in bringing the wine bars up to date ? resulting in a 30% boost to like for like sales in the recently acquired estate.

Novus, which operates a total of 53 premium bars, restaurants and clubs inluding the Tiger Tiger brand, has just appointed a new non-executive chairman John Kelly. Kelly has spent 40 years in the UK leisure industry, and created the Gala Coral gaming group. John Barnes, outgoing chairan, joined in 2008 - in his time at the helm the group's turnover has increased from £81 million to £136 million forecast this year.

A statement from the group describes trading as "extremely encouraging, with high double digit like-for-like being maintained both in London and the regions". It said the integration of the Balls Brothers estate had "gone well", with trading "buoyant" and like-for-likes up in excess of 30%, driven by Novus's high-tech advanced booking system.

The group has 140 sales staff focused oncorporate hospitality, events and parties, and sees online bookings increasing. Revenues from advanced reservations now accounts for 50% pf revenue outside of the Christmas period, and 75% over the festive season. Given this success, Novus has also invested an additional £1 million in upgrading its latenightlondon.co.uk website, which wil take place over the next 12 months. The firm says the investment "forms key plannning ahead of the anticipated uplift in bookings in the lead-up to the 2012 Olympics. The new website is due to go live in late October.

John Kelly, new chairman, said: "I am delighted to be joining Novus. It is a well run business with a great opportunity, as shown by its record of growing through a tough macro economic environment. I look forward to helping the team through further organic and acquisitive expansion and to being part of Novus's continuing success."

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