New World Trading Company (NWTC) has reported a 15% rise in underlying sales for the full year to 31 March 2018, MCA has learnt.

Sales for the year increased to £45.1m, with adjusted operating profit up by 14% to £5.2m.

NWTC said the growth during the period had been driven by successful new openings. The company opened five new sites and launched two new brands – The Florist and The Canal House – during the year to March, which it said were performing very well.

Since the year-end the company has opened a second Florist in Liverpool, as well as completing a major refurbishment of its Manchester flagship The Oat House.

The new site pipeline remains very strong, said the company, with two Botanist sites due to open in Coventry and Cheltenham before the end of the year. Next year will see further openings under that brand in Cardiff, Exeter and Bath, as well as a third Florist in Watford, which will take the company to 28 sites.

Chris Hill, chief executive officer of NWTC, said: “This has been an exceptional year for NWTC in challenging market conditions. We have made significant progress laying the foundations for our future growth and we look forward to the exciting new openings planned for The Botanist as well as The Florist brands.

“Our brands keep evolving successfully which is testament to our staff and the unique nature of our offer, with each new site tailored to suit its local market. Our aim is to provide an unrivalled customer experience as well as providing a great place to work attracting, training and retaining the best people in our industry, which is at the heart of NWTC.”

In July 2018, the business raised an additional £5.8m of banking facilities from NatWest to support the expansion plan.

NWTC currently operates 22 bars and restaurants under seven different brands: The Botanist, The Florist, The Oast House, The Smugglers Cove, The Trading House, The Club House and The Canal House.