ETM Group, the London-based operator led by Tom and Ed Martin, reported a rise in pre-tax profit from £387.5k to £850.3k for the year to 28 February 2013.
Turnover for the year stood at £16.5m, up from £12.3m the previous year, while operating profit increased from £551.4 to £978.5k as the company opened the Jugged Hare in Clerkenwell Street during the period.
The group said it was pleased with the results for the year and that it was constantly looking for opportunities to expand and was confident it could do so “with supportive funding”.
Earlier this summer, the company said it expects full-year turnover in its current financial year to pass the £30m mark as it looks to open two further sites in the capital.
The group launched its 11th site, One Canada Square, in Canary Wharf, this October, and plans to open a further pub and another bar and restaurant in the next nine months, with more sites planned for later next year and 2015.
Tom Martin said that current turnover had risen to £25m, beating forecast by £500k, with like-for-likes up across the board. He said that sales next year should be in excess of £30m, while good cost control has also delivered improved margins.
