Fish on a new angle to plan 22 openings

29 March 2001
Fish on a new angle to plan 22 openings

Restaurant group Fish wants to open 22 restaurants by October 2002, bringing its total to 28.

Chairman Tony Allan revealed his expansion plans as he announced the group's preliminary results for the year to 31 October 2000.

The company, formerly known as BGR, has refocused its attentions on its Fish! restaurants following the sale of its Bank and Zander restaurants last October for £10.25m.

It is planning to open 10 Fish! outlets by October this year. These will be in Leeds, on London's Kings Road, and in Putney, Blackheath, Wandsworth, Clerkenwell, Surbiton, Epsom, Manchester and Milton Keynes.

The 12 restaurants planned for next year include openings in London's Islington, and in Glasgow and Edinburgh.

During the year, the group opened four Fish! restaurants - three in London and the other in Guildford, Surrey.

Another opened in Birmingham in November, bringing the total number for the UK to six.

The new openings increased operating profit by 120% to £1.1m, on turnover 144% ahead at £3.9m.

The restaurant division, including Bank and Zander, saw turnover climb by 53% to £11.6m.

Operating profit increased by 47% to £2.5m and pre-tax profit by 59% to £2.6m.

Total group turnover grew by 10% to £21m while pre-tax profits dropped by £200,000 to £2.2m.

Allan said he believed that BSE and foot-and-mouth had helped to boost the consumption of fish.

By Angela Frewin

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