Tiger Tiger owner Novus Leisure sees Christmas sales up 8%
Bar, restaurant and club operator Novus Leisure has seen like-for-like sales jump 7.9% over the Christmas period (from 19 November 2010 to 2 January 2011), despite the freezing weather.
The company - which operates 38 venues, mostly in London's West End and City areas such as Grace, Jewel, W1 and Abacus, as well as Tiger Tiger bars in eight towns nationwide - said 78% of its Christmas revenue came from advanced bookings.
Group profit rose 17% over the period, while internet traffice to Novus-owned websites (latenightlondon.co.uk and TigerTiger.co.uk) also climbed 52%.
Steve Richards, chief executive of Novus Leisure, commented: "We've had another record December, with our performance matching the results for the year so far and clearly demonstrating the strength of our business model and the ongoing customer appeal of our venues. We successfully grew market share, maintained margins, and advance bookings were well ahead of last year. We are relatively pleased with the result, but expected to do better, particularly in the regional cities, which were badly affected by the snow.
"Key drivers in 2011 will continue to be the Novus-owned website Latenightlondon.co.uk, delivering advanced bookings, further increasing revenue from food sales from corporate events and the continued strength of our core market in London.
"We will continue to invest in our state-of-the-art venues and to open new sites, three of which launch in London and Glasgow before the summer. The New Year has continued in the same positive vein and we are well on the way to achieving another decent performance this financial year."
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By Neil Gerrard
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