Birmingham-based multiple operator Bitters ‘n’ Twisted Venues has reported a 10.7% increase in turnover to £5.7m across its six venues for the year ending 31 August 2014.
Pre-tax profits in the period increased by 53% to £975k.
Scriven told M&C that although the group received the odd email or letter offering finance to expand, it has never needed to take up any of the offers as it is trying to grow “organically and carefully”.
The company said that legals had now commenced on a new site in Birmingham city centre which is intended to be a diner style restaurant format but with a strong focus also on bourbon whiskies for the evening trading element.
Scriven said: “The 12 month period to August 2014 was successful for both sales and profit growth. Exterior Investments in previous years paid dividends due to the good weather, high quality and relevant management information was developed by the operations team and operational performance improved greatly as a result. There were no new openings in the period which also contributed to the maximising of profits.
“Since the end of the previous financial year the Bodega Cantina restaurant site which opened in Worcester in November 2014 has developed steadily and is making a solid contribution to profits. The latest new opening, Marmalade Bar & Bistro which is the bar and restaurant operation of The Rep Theatre in Birmingham city centre got off to a solid start in February 2015 but with a steep learning curve being experienced by ourselves at the same time due to nature of the trading patterns and the partnering up with an external organisation for the first time.
“We continue to seek to recruit and develop the operations team so that current trading levels can be developed further as well as providing the platform for future growth. A finance manager, Kirsty Daniels was recruited recently with significant multi-site hospitality experience from her time as a financial controller for Compass Group.”
Scriven said he expect recruitment and retention to continue to be challenging as a significant number of new competitors arrive in the Birmingham marketplace to “discover for themselves the nature of the historically shallow talent pool in the city”.
