Ignite Group, the owner of the Bumpkin and Boujis chains, swung back into profit in the year to 31 March 2013, as it saw turnover climb from £11.2m to £11.7m.
It reported a pre-tax profit of just over £1m against a loss of £2.3m the previous year. The group said that its core brands performed “solidly” during the year, with further investment made in people, processes and assets.
It said that the consolidation of start-up losses from a new overseas venture impacted overall results for the year as did “some exceptional costs associated with changes to the board”.
Since the year end, the group has strengthened its management team, with the appointments of Stephen Easthope as chief financial officer and Carlo Carello as its business development director as its looks to further grow its brands both nationally and internationally.
The group opened its first overseas Boujis site in Hong Kong last September and Carello has been tasked with increasing its UK and international presence.
The Bumpkin brand, which is led by Tina English, currently consists of four restaurants in London’s Chelsea, Notting Hill, South Kensington and Westfield Stratford City.
Ignite chief executive Matt Hermer said there were plans to expand Bumpkin to 20 venues across the UK within the next five years.
