Maclay Inns has doubled operating profit for the year to September 2007. The Alloa-based operator has also increased its property portfolio to £20m – up 10% on last year. Maclay now owns 26 pubs, bars and inns across Scotland. In the past year it has also promoted the launch of Thistle Pub Company III, which raised £7.5m under the Enterprise Investment Scheme. Thistle has acquired four more units and hopes to add four more in the next year. Managing director Steve Mallon said: “Our results show the success of steady growth path, which has grown the net asset value of Maclay through carefully selected acquisitions and profitable refurbishments. “This strategy continues to generate strong value growth and remains our plan for the future. “The business has trebled in value in the last five years. While we see the current trading environment as challenging we do see further opportunities to continue this growth in the future, albeit at a slower rate.”