The Food and Drink Group has seen its turnover leap in the first six months of the year thanks to the purchase of the Henry J Beans restaurant chain last year.
Previously the Hartford Group, the company said its swoop last September for the bar and grill operator had been the main factor in a 45% hike in turnover to £10m in the 28 weeks ended 8 April (2005: £6.9m).
The group has also ramped up its franchising activity for Henry J Beans, with new operations launched in Mexico and Madrid, and a site agreement signed for a new restaurant in the Middle East’s Jordan.
Pre-tax profit was £295,000 (2005: £2,000), while underlying profitability - earnings before interest, tax, depreciation and amortisation – shot up 136% to £1.1m (2005: £500,000).
Stephen Thomas, chairman of the Food and Drink Group, said: “We are pleased with both the acquisition and integration of Henry J Bean’s, a strong brand with great potential.”
He added that the company was happy with current trading levels and expected a strong business performance during the summer.
Hartford to rename after rejuvenation >>
By Chris Druce
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