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Thu 14th Dec 2017 - Bread Holdings reports turnover boost as Gail’s grows revenue 30%, Fever Bars results
Bread Holdings reports turnover boost as Gail’s grows revenue 30%: Bread Holdings, the parent company of Gail’s Bakery and artisan baker The Bread Factory, has reported turnover increased 24% to £78,956,368 for the year ending 28 February 2017 compared with £63,750,696 the previous year. Gail’s saw turnover rise by 30% while Bread Factory revenue was up 7%. Turnover for the retail business grew to £31,147,000 compared with £23,898,000 the year before while wholesale revenue increased to £57,789,000 compared with £46,683,000 the previous year. Pre-tax profit was down to £3,376,839 compared with £4,806,670 the year before, according to accounts filed at Companies House. The company stated: “This sales growth within the retail and the wholesale bakery divisions has been supported by operational improvements across the group along with ten new retail bakery openings. The expectation is the group will continue to maintain and grow wholesale sales from both new and existing customer accounts, while Gail’s will continue to see like-for-like growth through its existing shop portfolio supported by new shop openings made during the year. The directors continue to ensure the group’s service levels and commitment to customer satisfaction remain paramount. They continually monitor cost from suppliers to ensure their customers receive goods at a fair price. The unrelenting focus on food quality and innovation remains at the heart of the group’s ethos and the group continues to invest in IT to improve operations. A recent investment of £497,000 in an enterprise resource planning system is an example of the group’s commitment to ensure traditional craft baking is supported by 21st century technology to give its customers the best and most efficient service and its bakers the most timely information and planning tools to make the best products. The group operates to high ethical standards as an organisation and expects the same of its employees and suppliers. The group encourages an open and honest culture in all its dealings and ensures core values are fully implemented throughout the group.”

Fever Bars reports turnover and profit boost, aims to have 36 sites by end of 2018: Fever Bars, the operator of 28 bars operating under Fever, Boutique, Beach, Kukui and Moomoo brand names, has reported a rise in turnover and profit for the year ending 31 March 2017. Turnover rose to £18,328,879 from £12,026,225 the year before. Pre-tax profit was £1,898,236 compared with £355,253 the year before. The company stated: “The business is focused on weekend trade with 55% of total sales on Saturday nights (at the highest prices and gross margins). The size and flexibility of our venues allows us to generate a disproportionately high share of the available market on a Friday (and midnight weeks where applicable) by opening fewer rooms and creating a better atmosphere. The pre-book booth culture has become an important part of our business model and led to the rise of the employment of sales mangers in many sites.” The company opened sites in Basingstoke, Epsom, Gillingham, Lincoln and Maidstone during the year. New sites have opened in Oxford and the Isle of Wight this year. The company is aiming to have 32 sites by March 2018 and 36 by the end of 2018. It added: “The company’s strategy is to provide a ‘Big City’ late-night experience within smaller towns offering a memorable experience with first-class surroundings, excellent service, top entertainment, a great drinks range and, above all, value for money. In short, we treat our customers as weekend millionaires.” The company is led by Mark Shorting and Nigel Blair.

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