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Thu 4th Sep 2014 - Results: Glendola, Trust Inns, Miller Brands
Waxy O’Connor operator Glendola reports turnover increase: Glendola Leisure, the operator of Rainforest café and Waxy O’Connor’s led by Alex Salussolia, has reported turnover increased by 11.9% to £31,929,000 in the year to 29 March 2014 from £28,530,000 the year before. Pre-tax profit dipped to £2,187,000 from £2,464,000 the year before. Operating profit was £2,292,000, 15.8% lower compared to £2,722,000 in the year prior. An interim dividend of £450,000 was paid. Administrative expenses rose to £16,032,00 from £14,245,000 in 2013. The company stated: “The group has had a reasonably successful period in challenging economic circumstances. During the period, the group acquired a lease in London, The Door and a lease in Glasgow central station. It also disposed of the lease of the Terraces Bar and Grill in Brighton. The Door and the sites in Glasgow central station will receive further investment in the early part of the next financial year and the directors are confident that the funds invested will reap higher returns. The group made a profit before tax on its continuing operations and is well-positioned for future opportunities.” 

Trust Inns reports profit increase: Tenanted pub operator Trust Inns, owed by Trevor Hemmings and led by Lynne D’Arcy, has reported that profit before interest rose to £11,974,000 in the year to 31 March 2014 compared to £11,331,000 the year before. Turnover declined to £49,371,000 compared to £52,447,000 in 2013. Pre-tax profit was £3,002,000, up from £2,261,000 in 2013. The company stated: “Underlying trading performance during the year was satisfactory whilst marketing conditions have continued to be challenging.”

Miller Brands UK turnover nears a quarter billion pounds: Peroni and Pilsner Urquell owner Miller Brands UK has reported turnover rose 3% to £247,546,00 in the year to 31 March 2014, up from £239,427,000 the year before. Profit before tax was £23,825,000 compared to £19,707,000 in 2013. The company reported volume growth of 1% compared to a beer market down 1%. The company stated: “Turnover increased 3% reflecting an improved brand mix in the portfolio whilst cost of sales have remained consistent as a result of improved sku mix.”

Selfridge’s to open on-site Everyman cinema tomorrow: Selfridge’s in London is claiming a world first by opening an on-site Everyman cinema tomorrow – the Oxford Street shop will show Breakfast At Tiffany’s as its debut screening. The 60-seater Everyman picture house has been built on the store’s lower ground floor and will show a mix of new releases, independent titles and classics. Selfridge’s director of food and leisure Hannah Bass, who worked previously at ETM Group and Hakkasan, said: “Of course, shopping malls have been doing this for decades, but this is the first time that a department store is offering this ‘retail theatre’ experience to its customers. Not just a pop-up, this will live within the London store’s lower-ground floor at least until late spring 2015.” The cinema is next to the home decorative department and an adjoining bar will sell drinks to take inside including a Selfridge’s Rose Champagne at £14.75 a glass or £65 a bottle.

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