FDG sales up by a third
The Food & Drink Group (FDG), owners of Henry J Bean's and Jamies wine bars, said its half-year underlying pre-tax profits are up by nearly a third.
Turnover had risen 5.2% to 10.5m in the 29 weeks to April 14 2007, with like-for-like sales up 6.1%, said the group.
Pre-tax profits rose 98% to 600,000, with underlying profits up 31% to 400,000.
FDG's chief executive James Kowszun said the group's current infrastructure meant even a modest rise in sales fed through to a significant hike in profitability.
He said the group's focus on delivering a sustainable performance in food development, its wine offer and private party bookings has paid off.
Kowszun added that its functions business was benefiting from increased resources, including the appointment of a party co-ordinator, and the ratio of website enquiries to bookings had increased from one in three to one in two.
Current trading was strong, Kowszun said, with like-for-like sales in the first six weeks of the second half up 8.5%.
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