Eclectic Bars Group has returned to profitability and seen improved midweek and student trade.
The Luke Johnson-chaired group, which is part of the listed Brighton Pier Group, generated £2.3m of EBITDA to the total group during the year to 26 June.
The company said it had seen the full year benefit from single drinks supply contract renegotiated in prior year.
As a whole, the group recorded revenue of £22.6m, up from £22.3m last year.
Johnson said: “This has been a transformational year for the Group. The acquisition of The Brighton Marine Palace and Pier Company, and the operational and financial improvement made within our bars division, mean the Group is well positioned to drive the growth of our business. Our ambition is to become a leading, experience-led attractions business in the UK. I believe we now have the right group structure and experienced management team to deliver that ambition.”
At the start of the new academic year in September 2015, the group introduced its new ‘Loyal’ card, offering special deals for cardholders on student nights. It said that the initiative has proved to be a significant success, with over 664,000 drinks sold under the ‘Loyal’ card scheme during the student year.
Johnson said: “The campaign for returning students in September 2015 was a notable success, halting the slow-down witnessed during the previous year. The introduction of the ‘Loyal’ card scheme, the installation of free public wi-fi, improved offers and better communication with customers, have all contributed towards new student nights, boosting overall student numbers and increasing mid-week sales for the group.”