Be At One bars buck the economic gloom

22 October 2008 by
Be At One bars buck the economic gloom

Be At One, the London bar operator, has bucked the economic gloom, with profit before tax rocketing by 142% in the six months to September.

The group, which has seven outlets across the capital, achieved sales of £2,311,545 for the period, a 75% increase on the same period in 2007 (£1,319,291).

Stripping out new openings, the sales increase - on sites that have been open for more than a year - was 20%, rising from £1,319,291 to £1,590,852. Profit before tax in the period was £557,261 (2007: £230,829.)

Rhys Oldfield, company director and one of the founders of Be At One, said the group had benefited from focusing purely on drinks.

"Sticking to what we do best and focusing on our strengths has enabled us to grow the business without suffering from the increasing costs like most other operators," he said.

"We have seven units at present and plan to open a further five in the next 12 months. With the additional sites we anticipate increased profit conversion."

Be At One was founded ten years ago by Oldfield, Steve Lock and Leigh Miller, who met in 1993 whilst working at TGI Friday's. The first site opened in Battersea and has since been joined by bars in Soho, Covent Garden, Balham, Putney, Richmond and Hammersmith.

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By Daniel Thomas

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